Sibanye has been on a smooth downtrend since 23 May 2023...
I posted the Inverse cup and Handle which the price broke below the brim.
Then the price made another Inv Cup and handle which broke below that brim.
And now the price is following the downward trajectory line. I'm happy with this type of medium term short trade..
You're earning interest daily while...
The stock looks set for a relief rally after closing a gap from April 2020 and printing a swing low of R25.60
- RSi is bouncing off oversold and the bullish price action yesterday suggests a move up .
- Positive RSI divergence
TP & SL on the chart
Since the last update, Sibanye formed a major Inverse Cup and Handle.
The price broke below and has been coming down.
Just to make matter worse, another M formation formed in the interim, confirming it's strength to the downside.
200>21>7 - Bearish
RSI<50
Target remains at R16.89
Problem is most market makers don't even offer short CFDs and a script to...
Sibanye (SSW) is a mining house which has been on a rapid acquisition trail accumulating platinum and gold mines in South Africa and America and is now broadening its scope to include base metals and minerals, especially so-called "green" metals. The company is run by Neal Froneman who is well-known in the mining industry for his toughness, expertise, and...
JSE:SSW is a prime example that the market is forever evolving and one needs to evolve with it to stay on top.The instrument was coming down in a mini falling wedge on the lower time frames, from which it broke out and began its rally without closing the gap between R25.80 and R26.90 even after coming so close to it. It must be borne in mind that market gaps are...
JSE:SSW slipped off the ladder in March 2022 from its all time highs of R80.22, almost exactly 2 years after it had found support at R15.40.
Considering the latest price action, we can see price caught in a decending channel and is also now trading around the 50 DAY EMA with a falling wedge. Considering the market gap between R25.80 and R26.90 The instrument may...
Sibanye, like the rest of the sector is in downtrend. The only level of support I can find at this stage is a gap that could possibly filled at 25.80 which dates back to April 2020..!
Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper. It owns the East Boulder and...
The PGMS are finally catching a relief bid and SSW has since got back over the down sloping 20ema.
While bulls hold this moving average and stay above swing lows, price looks set to go back towards the down sloping 200ema / resistance zone R36.50-R38.70
NB: There is a open gap around R39.50
A double bottom is a bullish reversal pattern that shows a trend...
SBSW is currently extremely cheap. It has some political risk due its projects all around the world. 8% dividends currently. H&S? Stay safe, good luck.
Since the last update, Sibanye is heading to the first target.
We have a long way to go, so you can see the update here.
There has been an Inverse Cup and Handle form on Daily.
This is definitely deemed a medium term trade. But luckily with shorts, we earn interest income.
200>21>7 - Bearish
RSI<50
Target R16.89
ABOUT THE COMPANY
Sibanye Stillwater is a...
Gravity seems to be strong for PGMs miners. After several attempts to stay above R32, JSE:SSW has given up. R22 does seem like a possibility.
Froneman, do something.
On the last update I was not overly confident that a bottom was in at 3542, link below.
I am maintaining the bigger structure and only updating the wave count from 5245 for wave 5 which looks to be unfolding in a five wave impulse.
Short the rallies below 4500
Sibanye has gone lower than 20 December & also closed the week outside of rising wedge channel, it has failed the daily cycle, price will begin to trend downwards. We are close to Platinum reaching a low, it’s rebound will attract buyers in Sibanye causing price to close above the green trendline. It is the swing high that forms thereafter that will indicate right...
It obviously depends on how far you zoom out and how you draw the trendlines. However, the chart doesn't paint a good picture for JSE:SSW
Buyers are needed to step up and save the stock. No position.
This is definitely not my usual type of trade setup.
I don't like predicting market reversals.
I don't like catching the bottom and the top
I don't like trading without a solid chart pattern
So I am not taking this trade, but showing a major observation.
There has been a solid support forming over the last few months. Every time, Smart Money brings the price...
We can see SSW approaching an up trendline that has supported the market multiple times in the past. For entry I will wait for the market to test the trendling and close above it, I will wait for bullish confirmation pattern to enter
