Northam Platinum Ltd
The price of Northam is reversing off horizontal support at 4200. We have seen an increase in volume (circled red) at this level suggesting an accumulation interest at this point. Furthermore, the Stochastic oscillator is starting to move out of oversold territory, which in a range bound price environment, is considered a positive indication.
The price reversal, supported by volume and the oscillator, is considered bullish, favouring a rebound towards resistance at 4375, which if broken further favours a move towards 4565. A price close below 4115 would consider the failure of the bullish indications. The 4115 level is half the distance of the range (4200 to 4375) projected below support. This suggested failure level considers a risk half of the anticipated reward.