Sibanye downtrend broken - Warning for shortersSibanye has dropped beautifully with the INverse Cup and Handles...
That was until this month where the price broke above the downtrend for the first time.
Now to short is a risky business as the momentum is looking up and the buyers are taking over control.
This overlays with the boost in the Gold and Platinum price and the general resource market upturn.
We can say the bias is short still but it could turn very quickly...
Sibanyestillwater
UPDATE: Sibanye drops another 23% almost at targetYes we made a probability prediction on this large move down.
It's close to the target of R16.89.
But it's never good betting or hoping for a stock to crash and burn.
There is no scrip to short, so the only good thing about this analysis is brining awareness to investors who think it's cheap to buy and then they wake up 23% down...
This is a reminder that when markets are dropping, they are dropping for a reason. They aren't falling to go back up - They aren't roller coasters...
So don't think you've caught the bottom when the bottom is still a while away.
We can expect more downside and with Sibanye-Stillwater launching a US$500 million senior unsecured guaranteed convertible bonds coming in 2028.
We can expect more turbulence. Be careful out there. It's a moshpit for those who aren't risk averse.
UPDATE: Sibanye Stillwater still in downfall to R16.89Sibanye has been on free fall since February 2021...
It then formed a large Inverse Cup and Handle which broke below the brim level around R36.00...
Recently it formed a smaller Inv C and H which the price also broke down and out of.
And no matter what happens, the downtrend stays intact.
It still looks like this company is going to drop further to around R16.89.
I'll keep you posted though...
SBSW | Its Almost Golds Time | LONGSibanye 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 Stillwater mines located in Montana, the United States; and Columbus metallurgical complex, which smelts the material mined to produce PGM-rich filter cake, as well as conducts PGM recycling activities. The company also involved in the Kroondal, Rustenburg, Marikana, and Platinum Mile operations situated in South Africa; Mimosa located on the southern portion in Zimbabwe; the Driefontein, Kloof, Rand Refinery, and Cooke surface operations located on the West Rand of the Witwatersrand Basin; and the Beatrix situated in the southern Free State. In addition, it owns an interest in surface tailings retreatment facilities; the Marathon PGM project in Ontario, Canada; the Altar and Rio Grande copper gold projects in the Andes in north-west Argentina; the Hoedspruit; and the Burnstone and southern Free State gold projects in South Africa. Sibanye Stillwater Limited was founded in 2013 and is headquartered in Weltevreden Park, South Africa.
Sibanye could have a MAJOR bounce from here to R45This 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 to this level it bounces up and hard.
So we can expect Buying again from Smart Money as they buy into the Sell SIde Liquidity from retail traders.
Then once we get it back to R45.00 and it breaks above there, then we'll really see some serious upside.
The risk is low and the reward is high, so if you like these kinds of trades - this is one for the books.
TARGET HIT on Sibanye at R35.77 what now?Our target price after a few weeks hit at R35.77.
We are still seeing a strong downtrend a long with the RSI<50 and price <200.
Precious metals aren't showing strong upside to come with the strengthening US Dollar as well as the fear of rising interest rates.
I'm steering clear for now.
UPDATE Sibanye short going nicely target still to R35.77SSW Update The M formation formed nicely, broke below the neckline.
The price is coming down as the supply increases and the momentum is still down.
7<21<200
RSI<30
Target remains at R35.77
ABOUT
Sibanye-Stillwater (founded in 2013) is a mining company based in Johannesburg, South Africa, that specializes in precious metals extraction.
As a spinoff from Gold Fields Limited, it has since grown to become one of the largest mining companies in South Africa.
Sibanye-Stillwater operates four gold and platinum group metals mines in South Africa, as well as mines in Zimbabwe and the United States.
Sibanye-Stillwater has a workforce of approximately 84,000 people across its operations.
Also. it has interests in platinum recycling and other metals processing.
#Palladium getting ready to rocket?Keep an eye on Palladium here... looks to be consolidating in a neat bullish falling wedge formation. More importantly, the RSI is making a series of higher highs (divergency) which is warning of a rally to come...
Might be worth looking at a couple of the palladium/platinum plays... Sibanye, Impala, AngloPlat, Northams etc which would be beneficiaries if this plays out
AMS, bullish?We've noted several PGMs turning bullish in the past few weeks, and we have an JSE:AMS position. At the moment JSE:AMS seem to be retesting the (rising) 200MA, if it find support there, the stock may continue to rise, especially if the sector is turning bullish. Other notable players are JSE:IMP & JSE:SSW (position)
Short on SSWJSE:SSW is looking good for a short position based off of our momentum indicators. The stochastic, MACD and two EMA's have all crossed downwards. If triggered, we are looking for a target at around the 3580 level which is a strong support level making the target area a bigger possibility.