Bullish Northam price Action analysis
Northam Platinum Holdings Limited (JSE: NPH)
1.Price Formation: The price has broken out from a W(a falling wedge) price formation on a daily chart.
2.Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating bullish momentum.
3.200-day Moving Average is below the Price.
4.Thus, Mas 7>21
5.Relative Strength Index (RSI): The RSI is > than 50, indicating bullish momentum and potential further upward movement.
6.Price Target: 1st target = R200 and 2nd target =R250
Northam – the company
Northam Platinum Holdings Limited is a South Africa-based company engaged in mining, refining, and marketing platinum group metals (PGMs), including platinum, palladium, rhodium, and gold. The company operates primarily in the Bushveld Complex in South Africa, known for its high concentration of PGMs. Northam's key activities involve mining ore, processing it to produce concentrate, and then refining the concentrate to produce precious metals. The company is recognized for its significant contributions to the global supply of PGMs, with a focus on sustainable and responsible mining practices.
1.Price Formation: The price has broken out from a W(a falling wedge) price formation on a daily chart.
2.Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating bullish momentum.
3.200-day Moving Average is below the Price.
4.Thus, Mas 7>21
5.Relative Strength Index (RSI): The RSI is > than 50, indicating bullish momentum and potential further upward movement.
6.Price Target: 1st target = R200 and 2nd target =R250
Northam – the company
Northam Platinum Holdings Limited is a South Africa-based company engaged in mining, refining, and marketing platinum group metals (PGMs), including platinum, palladium, rhodium, and gold. The company operates primarily in the Bushveld Complex in South Africa, known for its high concentration of PGMs. Northam's key activities involve mining ore, processing it to produce concentrate, and then refining the concentrate to produce precious metals. The company is recognized for its significant contributions to the global supply of PGMs, with a focus on sustainable and responsible mining practices.
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