This still remain one of my favorite diversified mining companies. When everyone talk Iron ore, we automatically think Kumba. African Rainbow Minerals however also got a solid exposure to Iron Ore. Fundamentally the company is still sound and from a quantitative analysis basis, it still got some serious momentum behind the share price.
Technically - the share price is up 4.1% thus far and if it should close above R156.35, it has broken quite a prominent resistance level. I am a but worried about the “artificial” short-term spike in Iron Ore. A pull-back could see us back at the 50-day moving average (R136.71).
For more information on the company, feel free to read our summary on the company. Click on the following link to open: oldoak.co.za/wp/inde...ow-minerals-jse-ari/
Technically - the share price is up 4.1% thus far and if it should close above R156.35, it has broken quite a prominent resistance level. I am a but worried about the “artificial” short-term spike in Iron Ore. A pull-back could see us back at the 50-day moving average (R136.71).
For more information on the company, feel free to read our summary on the company. Click on the following link to open: oldoak.co.za/wp/inde...ow-minerals-jse-ari/