Inv Rev Cup and Handle has formed on Gold Fields. The breakout is quite strong and looks like the price is ready to plummet. The only obstacle in the way is the 200MA which investors might try to buy and hold the price up. We are seeing mixed signals but the inclination is more SHORT. 21>7 0 bearish Price> 200 mixed Target R127.72 ABOUT Gold Fields Limited...
Ok, I will be the first to admit that i look at Gold Fields more than any other stock, but there are reasons for that. I spent over a decade in the mining industry, two of which were at Gold Fields' South Deep operation. Secondly, I love commodity stocks as they are more volatile and cyclical, providing good trading opportunities. Gold Fields released FYE'22...
Keep an eye on Gold Fields, after a roaring run from the lows seen in September last year and touching a high of R215 in January, the stock has corrected in February to an important level which could provide support. R175 is where we find both horizontal support and the anchored vwap from the Sep 22' lows. If we do bounce we could run up to R198 - R199 where it...
If we lose the 175ish support on Goldfields, we could be heading for that unfilled gap around 156.
Gold fields since its mining week looks so be bouncing on the zone and moving higher
Gold Fields we made a BROAD analysis over the medium term. As it is one of the smaller gold companies, I like to widen the stop loss and take profit accordingly. So, it's not hit our stop loss yet at R173.80. But it has broken below the uptrend. Best we can do is just wait, hold and hope. But if it doesn't work out it's just another 1.5% loss on the portfolio,...
A bearish trend is applicable and negtate the bearish stance for a break above 21600. The ideal short entry is around 20900 or as close to this level as possible. Increase exposure for a break below 20200. Target is set at 19600. Stop-loss at 21600. The MACD bearish crossover supports a change in trend direction.
I last covered Gold Fields on 09/11/2022 and the share price has unfolded in textbook fashion, as forecasted. Seeing that the stock is currently in wave (v), it is not advisable to chase it. Commodity stocks are notorious for strong pullbacks and after the completion of five waves up, we expect a retracement in three waves. This is the time to sit on your hands...
This is a share worthy of an update. We first looked at GFI on the 4th of September and our opinion was simple: 1) we anticipated one final push to the downside potentially to R118,00 2) we identified R162,23 as a key level the bulls need to break to give a strong signal that they are now in charge Now that the Yamana Gold deal is off let's take a look at the...
Cup and Handle has formed on the daily and it follows with the upside in the gold price We have the 7 > 21> 200 MA and Price> 200 which is bullish Target R289.22. We also have the Chinese New year with consumers buying gold as gifts, which can push up demand for the metal. We've seen a bit of a weakness in the U.S. dollar, which you can see with the DIXIE, which...
I noted last year in August how Goldfields likes to make a fake break down before a leg up, just as in 2021. The same script seems to have played out and price is now at a key zone where it could possibly retrace or breakout to complete the bull flag measured move . Swing high becomes likely target if we do indeed break out here and gold bulls keep up the...
Nice bounce off the 200 weekly EMA for Goldfields (GFI:JSE) as gold price has seen a nice reversal midday. If the 200wema at R130 fails, we could be headed to R110-R115 which has some strong strong horizontal support. the anchored vwap from the sep18 lows also come in just under which should provide another level of support/
In previous trade idea, we looked at GFI forming an important breakout point. Area around R190 was strong resistance. Now price is consolidating in a symmetrical triangle. The expectation is for price to break to the upside taking out resistance. However beware of a fake move to the downside of the triangle before powering higher.
A price action above 18000 supports a bullish trend direction. Crossing below this level will negate the bullish stance. Further bullish trend confirmation above 18800. Price consolidation between 18400 to 19300. Crossing above the 19300 resistance will support the price action to target 20600. Crossing below 18400 will be the first sign of pending...
I have been in and out of this stock as i trade it intraday . The stops on the some of the swings were in hindsight a bit too tight. Luckily my position trade paid off ... we approaching a key level of interest and zone where we were trading before the Yamana news.
Goldfields attempting to bottom here, looks like an Inverse H&S pattern developing. 160 need to give in first to expose 180 and 200 as next possible targets.
It seems like a M-tip pattern is busy unfolding. A price action below 14300 supports a bearish trend direction. Crossing below 13400 might supports reaching the target of 12800. Remains a risky trade.
A price action above 14000 supports a bullish trend direction. Additional trend support above 14600. Crossing above 14900 might target 15700. Crossing below 14300 might be the first sign of pending weakness. Remains a risky trade.