Sibanye down more than -20% after announcing plans to issue a $500 million convertible bonds to acquire recycling operations in the US.
Technically the share has breached the 20-22 support area. Next support comes around 14-15, an area just below the Covid-19 lows.
Truworths #WeeklyChart points to 100.
It's overbought on lower timeframes though, meaning a pullback is possible in the short term.
A retest of the 70-76 area can be used to establish a 'long' position with a profit target of 100.
Mr Price attempting to cross back above its 200dma.
A reversal double-bottom technical pattern in formation, which, if confirmed, could target 170 next.
But first, the 150ish resistance area needs to give in!
A bearish Head & Shoulder pattern unfolding on Anglo's weekly chart, which may target 300 in the medium term albert with some support levels to be overcome along the way, with the 1st one being the 400-420 area, followed by the 330ish area.
Either way, I'm calling it 300!
*This is a medium-long term play.
It looks like MTN still has more downside to do. We have a technical double-top chart pattern that can target 80-85 in short-medium term.
Note how the double top pattern is part of a larger (bearish) descending triangle chart pattern whose measured target I'm scared to calculate!
Price is currently oversold on the RSI meaning we may get a short bounce.