Sibanye Stillwater has had massive gains over the past year, it is now cooling off a bit, IMO.
It needs to hold R64 otherwise it will open itself up to testing the next support line at the R55 area.
It needs to break and close above R73 to ensure it doesn't print a lower high.
However, It looks to be forming a bull flag - Which is indicating that this cool off period will precede the next bull run up.
My price target is R55 if it doesn't hold R64 - at this point I will back up the truck and load a massive LONG position.
Disclaimer:
I own Sibanye Stillwater shares.
It needs to hold R64 otherwise it will open itself up to testing the next support line at the R55 area.
It needs to break and close above R73 to ensure it doesn't print a lower high.
However, It looks to be forming a bull flag - Which is indicating that this cool off period will precede the next bull run up.
My price target is R55 if it doesn't hold R64 - at this point I will back up the truck and load a massive LONG position.
Disclaimer:
I own Sibanye Stillwater shares.