Possible ReversalJSE:GFI has reached a previous resistance level and we could possibly see a reversal at this point if it doesnt b reak through and form a higher high.
As always, I will wait for confirmation before jumping in.
G1FI34 trade ideas
JSE:GFIE ~7890
SL ~7300
2:1 TP 8939
100 Projection TP ~9000
Critical Resistance TP: 9400
161.8 Projection TP ~10000
GFI Long ContinuationGFI Negative interest rates creating the ideal storm
the wave of change is about to confirm
a few head winds still resisting
But gold indicating positive bull Trend
supply cannot cope with demand?
GFI Trade Idea (Short Term)Short/Sell GFI at current levels 8255c or higher
Stop-loss: 8490c
Take Profit Target: 7780c
Trade Type: Short TERM CFD
Time of Idea: 15:44pm, 26 September 2019
$JSEGFIGOLDFIELDS HOURLY is finding SUPPORT on the GAP at around R80.50. With a fall in the GOLD price yesterday and a strengthening RAND will it be able to hold!
Top5 oversold/overbought according to RSI & Gold FieldsOversold:
Delta Property 24
Pan African Resources 27
Gold Fields 30
PSG Konsult 32
Telkom SA 32
Overbought:
Trencor 84
Wilson Bayly Holmes-Ovcon - WBHO 83
Pioneer Food 82
Capitec Bank 78
Investec PLC 78
Spending some time on Goldfields. How quickly a share can go from hero to zero. A month ago, GFI was still trading at the top of the “OVERBOUGHT” list, just to now find itself in the top5 most “oversold” according to its 14-day RSI. It does seem like the “fear” aspect in the markets has died down somewhat. I would therefore personally be sitting on the side-line with this one.
Although it does seem oversold over the short term, that horizontal support line, which corresponds quite nicely with the 200-day Moving Average (at R61.84) worries me a bit. I would personally first like to see if it’s going to try a test these levels, with a break and close below these levels, most probably looking to test the R51.50 levels next. The share price might also be oversold according to RSI, but not yet on a price relative basis against the FTSE/JSE All Share.
Should we, however, see a “dead-cat-bounce” from current levels, could see the share price find resistance at the 50-day Moving Average at R81.
$JSEGFIGoldfields GFI has formed a DOUBLE TOP and has retraced down back into its previous DAILY range finding support on the bottom of the range. The full target of the DOUBLE TOP is round the R60.00 area where there is also the next area of horizontal DAILY support. Weakness in the GOLD price and a strengthening RAND are both inline with this weakness in GOLDFIELDS.
GFI at turning pointJSE:GFI seems to be struggling at a support and it could make a turn around for a long position. If it cnfirms above Tuesday's candle, I will consider a long position.
Long continuationGFI Market sentiment change indication
consolidation phase and bounce on support / resistance
achieved close above today will confirm
Bulls showing interest
Long support bounce expectedGFI Multiple resistance and trend lines in play today
expecting bounce will keep monitoring due to double bottom
on daily chart
+GFI / -HAR pairNew pairs trade from @Lester_Davids.
We are buying JSE:GFI and shorting JSE:HAR ratio 1.6066.
GFI is ex Div in two days (R0.60) so keep this in mind.
LongGFI after positive data released market correction makes 2nd Quarter interesting wait for turnaround
JSE:GFI Goldfields ReaccumulationGoldfields has broken out of a two (2) year TR and after a backup (BU) has started the markup. Recently after a buying climax, we are seeing a possible reaccumulation range. Some volume is again stepping up and we are looking for a break of the smaller TR for the next step up.
$JSEGFI Goldfields. Bearish looking weekly candleWarning to longs to maybe start taking some profit.
GFI stock price forecast timing analysis. 13-Jun-2019GFI
Supply-Demand trend analysis: About to begin an upward trend as a rebounding trend gradually gives way to limited rises and decreases and Rising section of high profit & low risk.
Supply-Demand strength flow appropriate to the current trend.
D+1 %Change Rang and candlestick forecast: 2.4% ~ 0.2%. Green candlestick
you can see a detailed forecast analysis data as below
Top5 oversold/overbought according to RSI & GoldfieldsEnd of week 31May19. Most of the companies finding itself in the top oversold list are there for good reason and would I caution all “bottom-pickers” to be very careful buying into these companies. FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow:
Oversold:
Clover 15
Brait 18
Tongaat 21
Glencore 23
RDI Reit 23
Overbought:
Allied Electronics 80
Gold Fields 78
Cartrack 74
Fortress B 70
AngloGold Ashanti 69
Spending some time on Gold Fields . You know the world is becoming increasingly worried/pessimistic, when you see these kind of “towers” happening in gold companies. The US also back into “Extreme Fear” territory according to the CNN Fear & Greed Index ( money.cnn.com ) – first time since the big drop in US markets end of last year.
Gold Fields made similar movements when US dropped end of last year, which tells us that a pattern is developing.
Gold Field however broke a very strong resistance level on Friday; one that has never been breached since November 2016. Although the share price is finding itself in extreme overbought circumstances (according to 14-day RSI and relative price movement against FTSE/JSE All Share), do find itself in a whole new trendline, with any further “Fear” growing worldwide, could see Gold Fields test the R70-R90 levels traded back in middle 2016.
GoldFieldsGold fields is currently testing overhead resistance on the Daily chart.
But if you zoom in the same chart, it looks like we might be having a bull flag pending a break-out.
Observing for now!
