South32 closing in on mean reversion

This chart and study of Australian domiciled metals and mining company, South32 is an example of a stock price mean reverting back to its 200 week moving average.

This price action is mimicked across many commodity related stocks.

For now, I’ll wait for South32 (S32:ASX) to trade down to $2.95.

August 30, 2023

by Rob Zdravevski

rob@karriasset.com.au