Get started

Goldfields

Gold fields not that glistening right nowInv Cup and Handle pattern has formed on the daily. We've had the price break below the Brim level but only barely. As a conservative trader, we'll need a stronger break down before there are any fireworks. So I'll be watching this one carefully. Other indicators show upside to come. 21>7 (Bearish) Price >200 (Price heading towards it). RSI<50 (Sell divergence) Target R156.86 ABOUT THE COMPANY Gold Fields mining company, a South African gold mining firm. Company Background: Gold Fields Limited is a globally diversified gold mining company headquartered in Johannesburg, South Africa. It is one of the largest gold mining companies in the world. Founded: Gold Fields was founded in 1887 by Cecil Rhodes and Charles Rudd in what is now the city of Johannesburg. Operations: The company has operations in multiple countries, including South Africa, Australia, Ghana, Peru, and the United States. South African Operations: Gold Fields' South African operations include the South Deep mine, located in the Witwatersrand Basin. South Deep is one of the largest gold mines in the world and one of the deepest mines. International Operations: Gold Fields' international operations cover a diverse range of mines, including open-pit and underground mines in various regions around the world.
JSE:GFIShort
by Timonrosso
UPDATE GoldFields slight pull back before heads to target R346W Formation formed on GFI a while ago. The price broke up and since then it was moving up for the first few weeks. Then when the gold price started its consolidation, so did the gold companies. This has formed a falling wedge. Once the price breaks above the pattern, we will see it continue its upside. RSI>50 - Bullish 7>21>200 Target R346.54 REALITY: Holding onto this trade as a trader is very long in terms of duration. Not only because we prefer our nature to be short lived with each market. But also the Daily Interest charges add on. So even though the trade is well in the money, when you look at your portfolio you're earning less that you should when it hits the take profit. Just something to keep in mind in the futre.
JSE:GFILong
by Timonrosso
UPDATE: Goldfields hit stop loss - but I warned you Inv Rev Cup and Handle formed and the price broken below the Brim level. There were mixed signals with the indicators and I warned you that we need the price to break and confirm below the 200MA. Which obviously, it tested reversed, Smart Money jumped in swept liquidity and pushed the price up. However, it's not just Smart Money to blame. Gold had a bit of reverse as investors had no idea where to put their money in. They are freaking out with the bank crisis in 2023. They are freaking out with Silvergate and crypto exchanges still liquidating. They are freaking out with these fears of high interest rates coming in the US. So as bitter as it hit the stop loss, it gives us a fantastic hedge for long side with Gold incase we get a pump catalyst with the market soon (which I doubt). I will be waiting for bulish signals to buy Goldfields. Let's see.
JSE:GFILong
by Timonrosso
#JSE Goldfields bouncing on vwap and horizontal supportKeep 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 could potentially form a head & shoulders top so i would look at buying a reversal off R175 with a fairly tight stop and a target back to where a right shoulder could form at R198.
JSE:GFILong
by MarcoOlevano
2
Gold Fields showing strong upside to come to R289.22Cup 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 can make gold more attractive to foreign investors. Central banks and other large institutions normally add gold to their reserves at the start of the year.
JSE:GFILong
by Timonrosso
To Gold(Fields) or not to Gold over the Shorter-term?This can turn out to be quite an important support level. A break lower can most probably test R125 again, with a break below R125 not looking healthy for Gold Fields (GFI). We are getting mighty close to a Death Cross, which I will be monitoring very closely. GFI however do find itself in EXTREME OVERSOLD (with the Gold price itself) according to its 14-day Moving Average (EMA), which could see a short-term recovery. Should the support level hold, could see GFI test 8-day EMA at R140.80 very quickly, with a break and close above these levels most probably bringing back the R150 resistance. My personal short-term target is R168, but as a long-term holder of the group, wont necessarily be selling at these levels. Still believe that the sky is the limit with GFI. Going for Gold (pun intended)!
JSE:GFILong
by SchalkLouw
1