Goldfields has been forming this inverted head & shoulders formation over the last 2 months. We finally saw a break of the neckline level of R42.50 today. Should this formation play out, i expect to see the target of R46.50 being reached in the next couple of sessions..
After the market tried twice to break out of the 4000 to 4400 area, it gives us a hint that we might be expecting a bearish movement next after the double tops has formed. My target for this will be first at 3678 and secondly at 3296.
GFI has been an interesting chart to look at from a Wyckoff perspective. GFI had been stronger than the sector group (Gold Miners J150). However, with the sharp decline was lagging the sector and now is again showing strength. After the initial decline we had a redistribution range with an upthrust after distribution (UTAD), some low volume tests of the UT and a...
Pick up Monthly bottom and wait for several months... No trading but investment in this case.
MACD will be above zero line soon and uptrend will be start.
Using Gold Fields as proxy for Gold Stocks in general we can see clearly on this chart that the current price of $3.86 Dollars is very close to a cyclical bottom that comes around every 400 weeks or so (bottom to bottom) over the last 25 years. The pressure may well have been building inside a clear Diamond pattern that could soon explode to the upside. Potential...
This is an update to my previous call for this stock. I've been trading it on the long and short side, until we had a good enough reason to jump into longer term gold positions recently.
I think we have good odds to see this monthly forecast pan out, so don't miss it. You could also be positioned in $GDXJ, $ARNGF, or $KGC, alternatively, but I favor this one...
GFI based on technical analysis of stock selection, week macd Jincha, but also heavy volume, so to buy on the approach
Exit mode: day ma20 below and bend down
$GFI is an optimal pick when it comes to gold miners. The valuation is very good, and growth exhibited by the company this year exciting. The situation in South Africa has scared investors away, but I believe it will be a very interesting trend going forward. At the same time, this play serves as a risk off bet, which is welcome in the current enviroment. We are...
I should have stopped out of Gold Fields LTD but held on. My position is small anyway. Excellent R/R entry with a break out over 3.30, stop at 2.94 (or where the low forms...).
Shares of basic material companies are surprisingly surging up after several days of down consolidation. Companies such as Alamos Gold Inc., Golden Minerals Company, B2Gold Corp, Fortuna Silver Mines Inc. and Gold Fields Limited are performing extremely bullish for the last two sessions during which two vital bullish candle patterns have been formed: engulfing...
