After reaching a high of R24.50 in May 2023, DRD has retraced right back to the change of polarity point and 200 week moving average (green). The level of R14.00 also happens to be the 61.8% fib retracement level joining the swing highs from May 23 and Swing lows from Sep 22. Putting this all together tells me that the 14.00 level is a high probability of leading...
DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. The company is involved in the exploration, extraction, processing, and smelting activities. It recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. The company was incorporated in 1895 and is headquartered in...
Uptrend channel is continuing for DRD Gold
Price >200MA - Bullish
21 >7 - Bearish
RSI = 50 bearish divergence.
Target R15.00
Fundamentals:
DRDGOLD, a company, is getting ready to release its results for the last six months of 2022. They are telling shareholders that they think their earnings per share and headline earnings per share will be between 59.5 cents...
Cup and Handle has formed on DRD and is looking pretty good.
There has been a retracement where it will be testing the uptrend as well as the Brim level on the Cup...
Also Moving Averages have crossed up with 7>21>200
Fundamentally, I am bullish on gold in the medium to long term. Despite the interest rate hikes, the chart is neglecting them and is showing the...
the breakout on the channel we will see a new rally on the share price the test can continue further as indicated on the support that can be a good buy before the breakout
Yellow vertical lines indicates the changes in market movement when GOLD chart is at trough.
The parallel lines indicate a mock charge, after the market traders realize that GOLD is at a low, bullish action follows backed by the DT+ and DT- intercept of the DMI.
The above movement occurred twice, indicated with the 2 yellow vertical lines.
It is my view that...
Nice tripple divergence setup here on DRD Gold. (RSI lower highs not confirming 3 higher highs in price). After an insane rally doubling in price over the last month, we should start to see a pullback here to at least the 38.2% fib retracement @ R23.85
Using the Wyckoff reverse use of trendlines it is possible that we have reached the oversold line. We are now looking for some (not necessary to be a lot) volume to trigger the next step up.
