Anglogold Ashanti Shares Surge 4.33% to $64.60 on Strong Technical Momentum

Anglogold Ashanti (AU) shares surged 4.33% in the most recent session to close at $64.60, building on recent upward momentum on significantly above-average volume. The following technical analysis examines the stock's trajectory using key indicators.
Candlestick Theory
Recent price action for Anglogold Ashanti reveals a strong bullish sequence. The session on 2025-09-04 formed a Hammer pattern ($56.68 low, $57.95 close), signaling potential exhaustion of the prior downtrend. This was followed by three consecutive white-bodied candles culminating in a large bullish candle on 2025-09-10 that penetrated the $65.00 psychological resistance. The current consolidation near $64.60 suggests potential resistance around the $65.00-$65.11 recent high. Downside support appears firm near $62.00-$62.19, a zone containing prior swing highs and Thursday's close.
Moving Average Theory
The stock exhibits a robust bullish trend across major moving averages. The price trades significantly above the 50-day (~$50.00), 100-day (~$46.50), and 200-day (~$42.50) averages, confirming a primary uptrend. Crucially, a Golden Cross occurred in late May 2025 (50DMA crossing above 200DMA), which continues to support bullish momentum. The consistent trading above all these key averages reinforces strong buyer control. A sustained move below the 50DMA would be necessary to signal a significant trend shift.
MACD & KDJ Indicators
The MACD(12,26) line crossed above its signal line in late August 2025 and remains in positive territory with the histogram showing sustained, albeit marginally reduced, upward momentum. This confirms the bullish price trend. The KDJ indicator (specifically the J-line) is currently near the overbought zone (approaching 80), which suggests the possibility of short-term exhaustion or consolidation after the recent surge. However, neither oscillator shows significant negative divergence versus price yet, indicating the uptrend retains internal strength despite being overextended near-term.
Bollinger Bands
Price action has consistently traded near or above the upper Bollinger Band (20,2) throughout late August and early September 2025, indicating persistent upward pressure and strong bullish conviction. However, the bands have expanded notably during this ascent, reflecting increased volatility. A move back towards the middle band (~$55.00), representing the 20-period moving average, would constitute a healthy pullback within the prevailing uptrend without reversing it.
Volume-Price Relationship
Volume patterns strongly validate the recent bullish price surge. Sessions marking key upside breaks (e.g., 2025-09-08, 2025-09-10) were accompanied by significantly higher-than-average volume, lending credibility to the advances. The spike in volume on the latest 4.33% gain to $64.60 warrants monitoring; while it confirms strong buying interest, such climactic volume can sometimes precede short-term tops or consolidation phases if demand falters.
Relative Strength Index (RSI)
Calculating the 14-day RSI based on the provided price data yields a current reading of approximately 68.2. This places Anglogold Ashanti near, but not officially within, the overbought threshold (>70). While this indicates building upward momentum and prevailing buying pressure, it also carries a higher probability of a near-term consolidation or pullback, especially given the preceding sharp rally. It serves as a cautionary signal that the move may be maturing in the short term, though not a guaranteed reversal indicator.
Fibonacci Retracement
Applying Fibonacci retracement to the major swing low of $23.08 (2024-12-31) and the recent high of $65.11 (2025-09-10) identifies key potential support zones during any retracement. The primary levels are:
23.6%: $57.32
38.2%: $51.90
50.0%: $44.09
61.8%: $36.28
Given the strength of the uptrend, the 38.2% ($51.90) and 50.0% ($44.09) levels represent major areas where significant buying interest might emerge to support the price. Current price action sits far above all retracement levels.
Confluence and Probabilities
A significant confluence of bullish signals exists: sustained trading above key moving averages, a MACD confirmation signal, bullish volume confirmation, and RSI trending upwards. However, this convergence occurs near a key psychological resistance level ($65.00) and as the RSI approaches overbought territory, potentially increasing the probability of a short-term consolidation or minor pullback to digest recent gains. The lack of bearish divergence currently tempurs expectations of a deep correction in the immediate term. Vigilance is warranted for signs of reversal near the $65 resistance, but the overall technical structure favors continuation upon consolidation, potentially targeting the next psychological hurdle near $70.00.