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Possible Bullish Inside Day Candle Pattern Detected for AngloGold Ashanti (NYSE:AU)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in AngloGold Ashanti (NYSE:AU) based on the price action in the company's shares. Today's price range of $15.61 and $15.76 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of AngloGold Ashanti may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

AngloGold Ashanti Limited is a holding company for a group of companies which explore for and mine gold internationally. The Group has operations in the Vaal River and West Witwatersrand areas of South Africa as well as Namibia, Mali, Brazil, Argentina, Australia, Tanzania and the United States.

AngloGold Ashanti (NYSE:AU) is currently priced 28.0% above its average consensus analyst price target of $11.26. AngloGold Ashanti shares have support at the 50-day moving average (MA) of $14.03 and additional support at the 200-day MA of $9.41.

In the past 52 weeks, shares of AngloGold Ashanti have traded between a low of $5.64 and a high of $17.39 and are now at $15.65, which is 177% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.8% while the 50-day MA has advanced 2.3%.

SmarTrend is tracking the current trend status for AngloGold Ashanti and will alert subscribers who have AU in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle anglogold ashanti

Ticker(s): AU