After peaking at over $18.00 and and around $15.00 over the last decade, HMY has seen worst days than what probably lies ahead.
This seems like a promising opportunity with HMY successfully raising $200M to part fund the acquisition of AngleGold Ashanti’s South African assets. A few days later it featured in Zacks Analyst Blog Highlight among the top five Gold stocks to deliver strong results in 2020 on 30.06.2020.
I see a potential inverted triangle forming with higher lows forming across mid-March to May with almost 50% retracement before breaking through the previous high.
Technicals point to a good longer term buying opportunity after the gap sees some retracement. You can potentially wait for an entry as it nears 50 EMA during pullback.
What are your thoughts?