Get started

Drdgold

DRD Gold Laggard but ready to shoot up - R24.65W Formation is forming on DRD Gold. It's been a slow process, considering how many gold stocks have been outperforming the index itself. But we are seeing signs that it's nearly DRD Gold time to shine... The price is close to the neckline which needs to breakout. We also need to see a confirmed close and strong move above the 200MA. The target remains at R24.65 ABOUT THE COMPANY 1. Company Overview: DRD Gold Limited is a South African gold mining company. DRDGold Limited, also known as Durban Roodepoort Deep Limited, is a mid-tier, unhedged gold producer and a world leader in surface gold tailings retreatment. The company was established in 1895 in South Africa, making it one of the oldest continuously operating mining companies in South Africa. 2. Operations: DRD Gold's primary operations are centered around gold recovery from surface tailings. The primary business of DRDGold is the reclamation and processing of residual gold from old mine dumps. Their largest operation, Ergo Mining Proprietary Limited (Ergo), has a vast footprint on the western and eastern sides of Johannesburg, a region marked by many years of gold mining. This area is known for having some of the most substantial gold deposits in the world. 3. Focus on Tailings: The company is known for its expertise in the retreatment of gold-bearing surface tailings. 4. Location: The company's operations are likely to be situated in the Witwatersrand Basin in South Africa, a region historically rich in gold deposits.
JSE:DRDLong
by Timonrosso
DRD Gold just gave the golden BUY signal to R25.00DRD Gold has had a troubling year. It's dropped from May 2023 from R25.35 down to R15.00. There've been two strong tests at R15.00 which has helped form a major bullish W Pattern. We just need the price to move up to break above the Neckline. Once that happens, the next target will be back to the highs around R25.00. The short term Moving Averages confirm with 7>21. And now the price needs to jump above the main 200MA. Then it will establish a Bull Market. Gold itself is looking VERY bullish as you would know from my previous analysis with Gold. And so Gold stocks are definitely quite safe to buy rather than sell right now. Investors might feel safe to start accumulating from around these levels. I would prefer to wait for a break above the 200MA.
JSE:DRDLong
by Timonrosso
DRD Gold broken above the falling flag - BullishFalling Flag has completed on DRD Gold. It started on 9 May 2023, where the price came trickling down in a falling rectangle formation. The price now has broken above, which signals high buying and demand liquidity. This will push the price up. Other indicators confirm: 7>21>200MA RSI>50 Target 1 will be to R25.24 at the top of the pattern. ABOUT THE COMPANY DRDGold Limited, also known as Durban Roodepoort Deep Limited, is a mid-tier, unhedged gold producer and a world leader in surface gold tailings retreatment. The company was established in 1895 in South Africa, making it one of the oldest continuously operating mining companies in South Africa. The company primarily operates within the Witwatersrand Basin, located in the province of Gauteng, South Africa. This area is known for having some of the most substantial gold deposits in the world. The primary business of DRDGold is the reclamation and processing of residual gold from old mine dumps. They specialize in the recovery of gold from surface tailings. Their largest operation, Ergo Mining Proprietary Limited (Ergo), has a vast footprint on the western and eastern sides of Johannesburg, a region marked by many years of gold mining.
JSE:DRDLong
by Timonrosso
DRD target reached at R14.12 next stop R17.63Target 1 Reached at R14.12 from the previous analysis. Now there is a Rectangle formation and on the bigger side of things a Larger Rounding Bottom. We just need to wait for the breakout. 7>21>200 - BULLISH (Green background) RSI >50 - Green New target R17.63 GENERAL INFO DRDGOLD (Founded in 1895 in JHB) is the largest producer of surface gold tailings in the world. The company operates two gold plants, the Ergo plant, and the Far West Gold Recoveries (FWGR) plant, which process gold from surface tailings. The company's main products are gold and uranium. Its main operations are located in the Witwatersrand Basin, which has been the site of some of the world's largest gold mines. What's great is DRDGOLD has implemented a number of initiatives to minimize its environmental impact, such as the use of cyanide-free technology.
JSE:DRDLong
by Timonrosso
2
DRD GOLD 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)
JSE:DRDLong
by TalkingCents