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After Yesterday's Rally of 2.20% Shares Could Potentially Pullback

By Amy Schwartz

AngloGold Ashanti (NYSE:AU) traded in a range yesterday that spanned from a low of $15.32 to a high of $15.67. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $15.55 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of AngloGold Ashanti have traded between a low of $5.64 and a high of $16.63 and are now at $15.41, which is 173% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has risen 1.8%.

SmarTrend recommended that subscribers consider buying shares of AngloGold Ashanti on January 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.81. Since that recommendation, shares of AngloGold Ashanti have risen 92.2%. We continue to monitor AU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders anglogold ashanti

Ticker(s): AU