Anglo American is close to an area that might stop the downward trend and relaunch buyers flow.
The mining company displays a low valuation, with a P/E ratio of 11.2x in 2015. Moreover, analysts covering the stock target on average a 27% appreciation potential.
Technically, the area of the GBp 1042.5 support should enable the stock to have a new bullish trend. The long term support in this area confirms its relevance. This threshold is likely to allow a significant technical rebound in the upcoming sessions.
Investors can take a long position on current prices. A first goal can be set at GBp 1145 and a stop loss will be placed under GBp 1042.