Long Position on AU @ $20.50 on 8/15/2019 (Momentum)

AngloGold Ashanti Limited (AU) operates as a gold mining company.

It also produces silver, uranium, and sulphuric acid; and dóre bars.

The company operates 14 mines and 3 projects in 10 countries in South Africa, Continental Africa, the Americas, and Australasia. In 2008, AngloGold produced 4.98 million ounces of gold from its operations, estimated to be seven percent of the global production. In 2009, the company's gold output dropped to 4.6 million ounces.

Shares are heading higher in an upward trading channel. Presently, shares are in the middle of the trading channel. Higher share prices are expected. 

Entry Point: $20.50

Stop Loss: $19.40

Trading Range: $7.08 - $21.74

Target Price: $22.55

Updates

8/27/2019 1:23:20 PM

AU closed at $23.63

Position closed on 8/27/2019 at price of $23.63 with a 15.27% gain in 12 days.

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