GFI - Short possibilityJSE:GFI has broken through the bottom of a sideways consolidation area and is looking good for a short position if it continues downwards and breaks through the 264 level.by RossLarter0
UPDATE GoldFields slight pull back before heads to target R346W Formation formed on GFI a while ago. The price broke up and since then it was moving up for the first few weeks. Then when the gold price started its consolidation, so did the gold companies. This has formed a falling wedge. Once the price breaks above the pattern, we will see it continue its upside. RSI>50 - Bullish 7>21>200 Target R346.54 REALITY: Holding onto this trade as a trader is very long in terms of duration. Not only because we prefer our nature to be short lived with each market. But also the Daily Interest charges add on. So even though the trade is well in the money, when you look at your portfolio you're earning less that you should when it hits the take profit. Just something to keep in mind in the futre. Longby Timonrosso2
GFI: Time to Lock in ProfitsGFI has had a good run, now is the time to be considering taking all or most profits off the table. The share price is within the vicinity of a trendline that has led to rejection of further upside. The path is a sketch of expected price trajectory, the end of path does not denote place of ending price. Of interest is the pink upward trendline closing the gap from 9 November 2022 in the process. There is risk of a push higher after a brief pullback, one should be aware not to be shaken out. Alternatively one can keep long open but short an over-extended miner such as Anglogold or Harmony. Shortby runyamhereUpdated 4
Speculative Idea: Sell GFIPublished to our client platform pre-market. For more research insights, including trade ideas, get in touch with me today. Please Read The Full Note For Specific Detail: Speculative, high risk trading opportunity thus smaller positions may be applicable. Preferred Sell Above 24400c. Following it's strong, multi-week run, the price action and technical momentum ratings suggest the potential for a slowdown in upward momentum, followed by a short term bearish reversal. The past two days have seen 2 'doji' candles being printed (potentially reflecting indecision) while several time frames point to an overbought position. Specifically, the 7 and 14-day RSI's are at 92 and 83 respectively. Price Action Scenario #1: The share opens and trades higher on an intraday basis, however, fails to hold above the highs of the prior two sessions. Failure to hold above 24200c supports the thesis that upward momentum is slowing. Price Action Scenario #2: The share opens lower and attempts to trade above the last close on an intraday basis. Failure to push back above 24100c would support a bearish stance. Last night we saw a risk on in the U.S which may see a temporary (ultra short term) slowdown in the 'safe-haven buying' in gold. Closing above 24800c would temporarily invalidate the idea. This is NOT the stop-loss but rather the pivot that would maintain the thesis for the bulls. Time Stop: 30 May 2023. Please Note: Following the publication of this idea, potential macroeconomic or company specific news may influence the price action dynamics of the share. To manage risk traders could also consider using a trailing stop-loss to protect capital and scale out of the position as price approaches the target (ideally above 60% to 70% of the intended gain). TRADING LEVELS: Entry: 24400 Target: 22200 Stop-loss: 25900Shortby techpers3
Gold Fields showing strong upside still to R346.54W Formation formed on GFI. It looks like a CUp and Handle but the second rounding bottom is more than 50% of the cup, so we call this a Short Formed W Pattern. In some cases, you can say it's even stronger than the basic as the price failed to make a new low - showing how strong the buying is. RSI>80 - Bullish 7>21>200 Target R346.54 Longby Timonrosso115
is GFI stock having bearish triple top? Comments welcomed pleaseGFI stock had these brisk triple tops. IMHO I think the stock could be shorted from this levels. I am hoping for some ideas.Shortby rafalkaczmarek111
GFIFrom a note that I wrote: If you would like to read the full note, you are more than welcome to reach out to me. At the top of this week I updated my short term view on GFI, highlighting the levels which I thought were important. The structure I saw was a megaphone technical formation where the upper boundary is potentially an ultra short term selling range. This level also coincides with the prior breakdown level in April 2022. The below chart is 'current', reflecting today's price action Notice the long upper tail thus far reflecting ‘some’ ultra short term selling? Most recently (28-Feb) I highlighted GFI (at R166) with the re-test of the prior breakout level and 'unfilled gap' being the re-accumulation zone. The share now trades at around R223 (a +34% move over the three and a half weeks) The original (time-stamped) chart is shown below. I must admit was a little too conservative on my call around gold shares as DRD Gold has now appreciated by 68% over the 5 months. My idea was for a long entry at 957c on 24 October 2022. I will likely update medium and long term views on the gold shares in the coming days.by techpers111
UPDATE: Goldfields hit stop loss - but I warned you Inv Rev Cup and Handle formed and the price broken below the Brim level. There were mixed signals with the indicators and I warned you that we need the price to break and confirm below the 200MA. Which obviously, it tested reversed, Smart Money jumped in swept liquidity and pushed the price up. However, it's not just Smart Money to blame. Gold had a bit of reverse as investors had no idea where to put their money in. They are freaking out with the bank crisis in 2023. They are freaking out with Silvergate and crypto exchanges still liquidating. They are freaking out with these fears of high interest rates coming in the US. So as bitter as it hit the stop loss, it gives us a fantastic hedge for long side with Gold incase we get a pump catalyst with the market soon (which I doubt). I will be waiting for bulish signals to buy Goldfields. Let's see. Longby Timonrosso3
Gold Fields looking tempting to buy I have observed two entry points for Gold Fields, first one being the current trading price since its at a resistance level and closed the gap. Second being at the major resistance which is likely to dip to that level if it breaks the current resistance line. by Thapelo_Khubayi0
Gold Fields sparked a cautionary SHORT signal to R127.72Inv Rev Cup and Handle has formed on Gold Fields. The breakout is quite strong and looks like the price is ready to plummet. The only obstacle in the way is the 200MA which investors might try to buy and hold the price up. We are seeing mixed signals but the inclination is more SHORT. 21>7 0 bearish Price> 200 mixed Target R127.72 ABOUT Gold Fields Limited (Founded in 1887 by Cecil Rhodes and Charles Rudd) is a South African gold mining company headquartered in Johannesburg which started in Witwatersrand, with operations in South Africa, Ghana, Peru, and Australia. Gold Fields is one of the largest gold mining companies in the world, with a market capitalization of around $10 billion as of February 2023. The company produces around 2 million ounces of gold annually from its mines in South Africa, Ghana, and Australia. Gold Fields employs around 10,000 people in South Africa and is one of the country's largest private sector employers. Shortby Timonrosso3
$JSEGFI - Gold Fields: Surf The Waves, Fade The NewsOk, I will be the first to admit that i look at Gold Fields more than any other stock, but there are reasons for that. I spent over a decade in the mining industry, two of which were at Gold Fields' South Deep operation. Secondly, I love commodity stocks as they are more volatile and cyclical, providing good trading opportunities. Gold Fields released FYE'22 results today and they were pretty flat. The last time i covered GFI was on the 17th of January 2023 and i cautioned not to chase it. The share price reversed almost immediately and has plunged 23% from the 21687 peak. The rally from 12662 to 21687 is a clear five wave advance and i am tentatively labelling the whole advance as wave ((a)) of a minimum three wave move. The current sell-off has been strong and there is no evidence of a turn around just yet so it's best to sit on your hands and watch price action. For the bullish continuation outlook to remain valid, price must hold above 12662.by Loyiso_BlaqueSoros_Mpeta0
#JSE Goldfields bouncing on vwap and horizontal supportKeep an eye on Gold Fields, after a roaring run from the lows seen in September last year and touching a high of R215 in January, the stock has corrected in February to an important level which could provide support. R175 is where we find both horizontal support and the anchored vwap from the Sep 22' lows. If we do bounce we could run up to R198 - R199 where it could potentially form a head & shoulders top so i would look at buying a reversal off R175 with a fairly tight stop and a target back to where a right shoulder could form at R198.Longby MarcoOlevano221
GoldfieldsIf we lose the 175ish support on Goldfields, we could be heading for that unfilled gap around 156.by Innocentmaponde0
GOLD FIELDS Gold fields since its mining week looks so be bouncing on the zone and moving higher Longby Sbo_Dhlamini1
GFI trade update not lookign good - We hit a red flagGold Fields we made a BROAD analysis over the medium term. As it is one of the smaller gold companies, I like to widen the stop loss and take profit accordingly. So, it's not hit our stop loss yet at R173.80. But it has broken below the uptrend. Best we can do is just wait, hold and hope. But if it doesn't work out it's just another 1.5% loss on the portfolio, never a biggy. Longby Timonrosso2
GFI: a change in trend directionA bearish trend is applicable and negtate the bearish stance for a break above 21600. The ideal short entry is around 20900 or as close to this level as possible. Increase exposure for a break below 20200. Target is set at 19600. Stop-loss at 21600. The MACD bearish crossover supports a change in trend direction.Shortby Peet_Serfontein1
$JSEGFI - Gold Fields: Do Not Chase ItI last covered Gold Fields on 09/11/2022 and the share price has unfolded in textbook fashion, as forecasted. Seeing that the stock is currently in wave (v), it is not advisable to chase it. Commodity stocks are notorious for strong pullbacks and after the completion of five waves up, we expect a retracement in three waves. This is the time to sit on your hands and let the market come to you.by Loyiso_BlaqueSoros_Mpeta2
$JSEGFI - Gold Fields: Bullish After A Giant Running FlatThis is a share worthy of an update. We first looked at GFI on the 4th of September and our opinion was simple: 1) we anticipated one final push to the downside potentially to R118,00 2) we identified R162,23 as a key level the bulls need to break to give a strong signal that they are now in charge Now that the Yamana Gold deal is off let's take a look at the bigger picture and bring it all home. From the August 2020 peak at R255,69 the share dropped to just below R118,00 in a complex WXY pattern for wave (A). The recovery to the new all time high at R262,93 was in a simple ABC zigzag for wave (B). The sell-off from R262,93 for wave (C) was impulsive but terminate at R126,62 just above the wave (A) low. The entire (A)(B)(C) pattern is a running flat and with the recent break above R162,23 we can be more confident that the bulls are back in charge. The price action from R126,62 already looks impulsive and hopefully with a recovery in the gold price as well we will see more upside in GFI. Longby Loyiso_BlaqueSoros_MpetaUpdated 112
Gold Fields showing strong upside to come to R289.22Cup and Handle has formed on the daily and it follows with the upside in the gold price We have the 7 > 21> 200 MA and Price> 200 which is bullish Target R289.22. We also have the Chinese New year with consumers buying gold as gifts, which can push up demand for the metal. We've seen a bit of a weakness in the U.S. dollar, which you can see with the DIXIE, which can make gold more attractive to foreign investors. Central banks and other large institutions normally add gold to their reserves at the start of the year. Longby Timonrosso3
Goldfields - Déjà vuI noted last year in August how Goldfields likes to make a fake break down before a leg up, just as in 2021. The same script seems to have played out and price is now at a key zone where it could possibly retrace or breakout to complete the bull flag measured move . Swing high becomes likely target if we do indeed break out here and gold bulls keep up the momentum . by Trader-Dan1
#GFI bouncing off 200ema on weekly #JSENice bounce off the 200 weekly EMA for Goldfields (GFI:JSE) as gold price has seen a nice reversal midday. If the 200wema at R130 fails, we could be headed to R110-R115 which has some strong strong horizontal support. the anchored vwap from the sep18 lows also come in just under which should provide another level of support/Longby MarcoOlevanoUpdated 4
Goldfields (GFI) - Looking to Resume UptrendIn previous trade idea, we looked at GFI forming an important breakout point. Area around R190 was strong resistance. Now price is consolidating in a symmetrical triangle. The expectation is for price to break to the upside taking out resistance. However beware of a fake move to the downside of the triangle before powering higher.Longby runyamhere0
GFI: another leg up?A price action above 18000 supports a bullish trend direction. Crossing below this level will negate the bullish stance. Further bullish trend confirmation above 18800. Price consolidation between 18400 to 19300. Crossing above the 19300 resistance will support the price action to target 20600. Crossing below 18400 will be the first sign of pending weakness. Remains above its 200-day simple moving average - supporting a bullish trend. Longby Peet_Serfontein2