Anglogold Ashanti Stock Surges 12% To $67.82 On Bullish Breakout Past $65.50 Resistance

Candlestick Theory
Recent price action in Anglogold Ashanti exhibits a notable bullish breakout. The stock closed at $67.82 on 2025-09-19, forming a large bullish candle that engulfed the prior three sessions’ range, suggesting strong upward momentum. This pattern breached the key resistance level near $65.50 (previous congestion zone in early September). Immediate resistance now sits at the session’s high of $68.01, with a decisive break potentially targeting the $70 psychological level. Support is established around $64.50–$64.60, where multiple daily closes and wicks converged, aligning with the August 2025 swing high. The $62.00–$62.50 zone offers stronger support, validated by September’s bullish reversal candles and volume spikes.
Moving Average Theory
The moving averages present a robust bullish alignment. The 50-day MA (~$55.21) and 100-day MA (~$51.40) both trend upward, with the 50-day positioned above the 100-day since early September. The current price trades significantly above the 200-day MA (~$47.10), confirming a long-term uptrend. Short-term momentum is reinforced as the price remains above the 50-day MA, with the recent pullback to $64.52 (2025-09-17) rebounding precisely from this dynamic support. The ascending MA hierarchy (price > 50-day > 100-day > 200-day) signals sustained bullish momentum barring a close below the 50-day threshold.
MACD & KDJ Indicators
The MACD histogram turned positive on 2025-09-10, with the signal line crossover occurring near the zero line, amplifying the trend reversal’s validity. The MACD line continues to rise, supporting bullish momentum. KDJ, however, flags caution: the J-line (93.2) is deeply overbought (>90) as of 2025-09-19. While KDJ overbought conditions can persist in strong uptrends, such extremes historically precede minor pullbacks (e.g., early August 2025). Divergence is absent, but KDJ’s position suggests near-term consolidation risk.
Bollinger Bands
Bollinger Bands reflect expanding volatility, with the price consistently testing the upper band since 2025-09-08. Band width expansion began in late August during the rally from $53 to $68, indicating strong directional conviction. Recent closes near the upper band imply continued upside pressure. A contraction would signal consolidation, while a retreat toward the 20-day SMA (middle band, ~$62.80) would offer a potential entry point if supported by volume.
Volume-Price Relationship
Volume trends validate price moves. The 2025-09-19 breakout occurred on volume of 5.26M shares—well above the 30-day average (~3.1M)—signifying institutional participation. Similarly, the 2025-09-10 surge (4.33% gain) saw volume spike to 3.69M. Conversely, declines like 2025-09-16’s -2.24% drop had above-average volume (4.51M), indicating distribution. The current rally’s volume support enhances sustainability, though diminishing volume on further gains could signal exhaustion.
Relative Strength Index (RSI)
The 14-day RSI (~72) entered overbought territory on 2025-09-19. While RSI >70 typically warns of overheated conditions, its utility as a reversal signal is limited in strong trends (e.g., RSI remained >70 during July’s rally). The current reading aligns with recent momentum but warrants vigilance. A reversal below 70 without significant price decline would confirm strength; a sharp drop below 30 remains improbable given the trend structure.
Fibonacci Retracement
Applying Fibonacci to the March 2025 low (~$27.29) and September 2025 high ($68.01) identifies key retracement levels. The 38.2% level at $53.25 provided robust support during August’s consolidation. The 50% retracement ($47.65) aligns with the 200-day MA and major swing low. Recent price action held the 23.6% level ($60.80) as support. The next upside target is the 161.8% extension near $75.00, though confluent resistance at $68.01 (psychological) and $70.00 (round number) may trigger short-term profit-taking.
Confluence & Divergence Summary
Significant confluence exists between:
- Bullish candlestick breakouts, ascending MAs, and MACD momentum confirming the uptrend.
- Volume-supported rallies and Bollinger Band expansion underscoring buyer conviction.
- Fibonacci’s 23.6% level and the 50-day MA reinforcing $64.50–$65.00 as critical support.
Notable divergences involve:
- KDJ’s extreme overbought reading conflicting with MACD’s steady ascent, suggesting near-term choppiness.
- RSI overbought status without price reversal, historically resolved through sideways consolidation.
Probabilistically, Anglogold Ashanti’s technical structure favors continued upside above $68.01, targeting $70.00–$72.00, provided volume sustains and the 50-day MA ($55.21) holds on pullbacks. Traders should monitor overbought oscillators for potential short-term pressure, with $64.50 acting as a pivotal risk-management level.