After a period of sideways movement, Impala Platinum is starting to show signs of a potential breakout, with its weekly chart revealing a series of higher lows – a signal that buyers are stepping in when the price dips.
If the share price breaks above R122.74 (marked as line A on the chart), it could indicate renewed upward momentum and attract more buying interest. If that happens, the next price levels to watch are R124.78, R126.30, R128.71 – with further upside possible up to R172.22.
But risks remain. A drop below R107.22 would break the current bullish pattern and could send the share lower, with potential downside targets starting at R106.40 and stretching down to R92.03.
Investors considering a long position may want to wait for a clear break above R122.74, using a stop-loss at R117.32 to manage risk. While these price points are technical rather than fundamental, the rising lows suggest growing interest in the stock – a cautiously positive sign for the platinum sector.
This analysis reflects the personal opinion of the writer and should not be taken as financial advice.
Frans de Klerk is an independent technical analyst with more than 40 years’ experience in the markets.
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