If gold's price continues to stay elevated and push higher then I believe DRD Gold will push higher too.
It has broken out of the trend line and looks set to move higher, which coincides with gold breaking out too.
Strikes aside, I think pullbacks will be an opportunity to add to positions.
Price targets are highlighted on the chart, with predetermined profit taking prices along the way.
Profit taking started today, which also coincides with the strike actioned that was served to Sibanye Stillwater.
My price target within 12 months, barring any economic meltdown, is R22 (+- 50% return)
My stop loss will be set below R11.50.
Disclaimer,
I have been accumulating DRD gold since R11,50, and have taken profits recently, will look to add to existing positions again in large pullback like today (9th March 2022)
It has broken out of the trend line and looks set to move higher, which coincides with gold breaking out too.
Strikes aside, I think pullbacks will be an opportunity to add to positions.
Price targets are highlighted on the chart, with predetermined profit taking prices along the way.
Profit taking started today, which also coincides with the strike actioned that was served to Sibanye Stillwater.
My price target within 12 months, barring any economic meltdown, is R22 (+- 50% return)
My stop loss will be set below R11.50.
Disclaimer,
I have been accumulating DRD gold since R11,50, and have taken profits recently, will look to add to existing positions again in large pullback like today (9th March 2022)