After a few weeks of expansion, Sibanye broke out of the channel on Friday. Bullish looking and a target of 69-70 are on the cards. Stick to stop losses.
I like the long term setup here. Had a long position here a couple months ago but I got stopped out. I think it's ready to go this time but Ill be keeping a tight stop loss.
Price Target - $24
Sibanye looks quite bullish with a bullish rectangle flag. Waiting for a break above 5760 and a close above 5933 confirms the breakout. If the breakout trade does confirm it would mean the share is making a new all-time high.
Weekly Uptrend channel
At support line
Entry 13.6
Stop 19
Target 12
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
Sibanye seems to be trading within a channel between 5800 and 4700. Watch for support and resistance levels to trade within the channel. Be wary of a a break below support level 0f 4700. No position.
We have a nice bull flag on Sibanye still water. Seemingly to be the front runner in following gold price. After the $1860 support on gold held. If the gold breaks and stays above $1930 level gold miners look rather interesting
Wait and see. Still look like a pump n dump now...
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Published an idea on 9/13 on this one focusing on the RSI divergence.
Now it is making another divergence high after correction/consolidation. RSI, MFI and other are still showing divergence at this point. Another testimony that divergence highs for strong stocks are also a play to consider -- that is, buy pullback and adding positions as opposed to disposing...
The story is not in the Technical but in the company fundamentals.
When we have look at the history it is a transformational story in my view . See the no dividend gap between 2016 and 2020 it when with many acquisitions , and a pile of rocks in the road ..during the time , they extended debt maximum , battled on some of the old ultra deep assets , but boy did...
Another bullish leg possible. MACD at the point of crossing. Stochastic pointing upwards. Sideward trend broken to the top side. News is also that they bought additional gold mines. Buy 4861, stop 4402 and targeting 5801 for a start.
Current support line is holding, despite USA politics.
Previous break from consolidation 19 June 2020: -DT intercepts +DT
Per current DMI: +DT closing in on support
-DT closing in on +DT.
After intercept will show break from current consolidation period, I'm bullish on SSW after the break.
Let's see if this is a valid buy signal here
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
