G1FI34 trade ideas
GFI LongBuy at support line
Entry 8.8
Stop 6.8
Target 14.5
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small bet on gold minersSequential 13 and Combo 13 on $GFI yesterday. I'm adding for the anti-dollar bet.
Bull flag on Gold fieldsGoldfields around its support today. will be interesting to see if it will bounce like Gold did. Gold miners will be interesting if the gold rally from earlier in the continues.
Gold Fields on a knifes edgeAgain, Gold Fields finds itself at a crossroad. The trading update from the company this morning looked positive, and we maintain our buy recommendation on the GFI. See our recent report: oldoak.co.za
Technically, the share price still finds itself within the falling wedge pattern, with the bottom support-line being tested for the third time this week. We also see the share price getting dangerously close in breaking below the 200-day Moving Average (EMA). All three the shorter-term EMA’s (8, 21 and 50 day) are pointing downward, which indicated that the trend is not the Gold-bull’s friend currently. I would caution any short-term long position and would rather wait for confirmation that support did hold-up.
Should the support not hold up, we can very much see the share price back at the R127 levels. Should support hold and we see a break and close above R185.44, could very much bring the R200 back into play. I would, however, recommend that all trader rather do nothing for now.
Falling wedge breakout on GoldfieldsJSE:GFI has formed a falling wedge pattern and has broken out of the top 3 days ago. If it continues up, I will consider a long.
Goldfields to move to top of channelJSE:GFI is trading in a small channel and is looking like it's on its way to the top of the channel for a small upward move.
Make or break for Gold Fields?Gold Fields broke below both its 8-day Moving Average (EMA) and medium-term support level yesterday. Looking at the US Dollar Index last night and this morning, I do think that this might turn out to be a false break. See the link to my US Dollar Index/Gold Idea of the 17th of October. With the USD Index now trading below 93, I do think that the next stop for the Gold price could very much be $1925/oz. Should this turn out to be a false break for GFI and we see a break and close above the 8-day EMA (R206.80), my short-term target the become R220.
Also, remember to read our recent research report on the company here: oldoak.co.za
GFI Long ContinuationGFI ready for next movement Up
Wait for the confirmation Breakout
Gold demand outpacing Supply
GFI - Short idea should we have a break of R220GFI is find it hard to maintain momentum and R230 has found some heavy resistance. The other golds have dropped but GFI has held strong. Should we see a drop of R220 we could see a nice move down R200 and maybe even further.
GFI LongGFI
the sell of of Gold stocks was worse than expected due to the bad
Job Data from america indicating a far bigger rise in gold to be expected
we could see 4000 dollars the main instigators are?
known as the trifecta trade against the dollar
Government stimulus ( 4 trillion with no end in sight )
a Tec War with China ( Tik Tok and Wechat )
and the Corona Global Pandemic ( no vaccine in sight )
Giving Investors a once in a lifetime opportunity for Gold and Silver
BUY>
GFI LongGFI Long term trade ( LTT ) of C&H Pattern completion level R300
that is still R40 to go as seen on weekly chart
trade performing as expected
before a correction is due.
The Return of the Golden-EraVery interesting level on Gold Fields ( GFI ). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the breakout price. The thickest part of the triangle is used. This means that should GFI break above the triangle, it could very much target R230. If I was a short-term trader, my stop-loss would be at the 50-day Exponential Moving Average at R136.63, which also coincides with the bottom of the triangle.
The Return of the Golden-EraVery interesting level on Gold Fields (GFI). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the breakout price. The thickest part of the triangle is used. This means that should GFI break above the triangle, it could very much target R230. If I was a short-term trader, my stop-loss would be at the 50-day Exponential Moving Average at R136.63, which also coincides with the bottom of the triangle.
Pair Idea: Long GFI/ Short HAR Pair: Long GFI/ Short HAR
Currently trading on Support Level (S3) and 200-SMA - short term indicators looking oversold.
Current level 2.00 as per the relative/ratio chart.
Stop: 1.93
Traget: 2.18-2.22
positive exploration updateI think there will be a dip around 9.14 and then reach higher!!
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Long GFI Taking a look at GFI, we can see a few indications that the price will move up higher.
1. Inverse Head and Shoulder formation - if you take a look on the daily chart there was an inverse H&S that formed in Mid Feb to Mid Apr, the
formation played out and the price broke upward.
There is currently an inverse H&S in play as it just broke through the neckline on 19/6/2020
2. Volume looks to be twice the average daily volume
3. MACD indicator has turned
4. The 10MA is just above the 20MA which indicates short term bullish momentum if it stays above the 20MA
I will go long on this on Monday 22/06/2020 as close to R140.00 as possible my exit would be below the neckline as that may indicate a failed Inverse H&S
Risk would be about 5%
Reward - first target would be a target of 11.5% with an upper target of 21%
17553 seems to be the highest high since 2003 and I do not think the price will cross this resistance level easily
