Anglo American, the decline widens
Anglo American drops 6.1% as the sell signal holds into its second week
Anglo American, the decline widens
Our view last week
The picture on Anglo American has flipped: after a mature buy with all its targets already hit, this week a fresh sell signal kicks in and the stock drops 4.3%. Signal strength lands at 29 out of 100 — a decline just getting started, already making lower lows — while price sits boxed in a tight corridor between the 3629 and 3620 areas. The stock is still 25.5% above its 200-week average: first week, confirmation still to come.
This week's summary
Anglo American's sell signal is only in its second week, and this one shed another 6.1%: last week's drop was 4.3%, so the decline is now widening for real. On the daily chart the stock had tried a double bottom with an 11% bounce, but sellers took back control in the last session and money flow stays in distribution. The European mining sector, meanwhile, is down 1.3% for the month — a backdrop that isn't helping.
IQS Phase
62
ordinary
Signal Strength
52
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#8 / 53
EU-UK stocks sell signals
Trade P&L %
+6.10%
from signal to today
restricted Platinum content