[StageAnalysis]

Anglo American is looking like it wants to break out to stage 2..anyone else getting that feeling?

It's been flirting with the top of it Stage 1 range for a while now, much like GEMD.L did, which broke out into Stage 2A a month ago. My main issue with it is that others in the mining group have shown better relative performance to date. But if it manages to break out into Stage 2A on some exceptional volume, then it would be interesting to me, as it's formed a nice big base, and is close to clearing near term resistance. But without a dramatic volume increase following a breakout, it would be less interesting.

On another topic as I was perusing various charts..I was looking at the mansfield relative strength indicator. Has anyone else noticed its ability as a standalone indictator? Possibly created a strategy and tested buy and sell on a break of the zero line. Uncanny trend trading indicator it seems. Just a thought

I did a fair bit of backtesting on it when I was first learning the method and found as a standalone indicator it had too many whipsaws, although less if you use the 52 week setting. But it is excellent way to scan for late Stage 1 / early Stage 2 candidates, and is much better if you combine the scan with 2x weekly average volume and/or a breakout to new 52 week highs for a further filter.