GFI trade ideas
$GFI showing promise for trend reversal$GFI hit the support floor from the past 12 months.
- Floor @ $8.25
- Potential: Low: $10.30, Mid: $12.00, High: $13.90
Testing the idea:
Price won't fall below $8.30
MACD/Signal cross by end of next week
RSI climbs above 50% in the next 3-5 trading days
Holding Goal: 3 months
Gains: 40%
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:GFI Gold Fields Time to Look at Gold Stocks AgainAfter a significant pullback in gold stocks, there are some good signs of strength with Gold Fields one of the strongest and above its yearly pivot point. On the pullback, buyers stepped in below R150 of GFI. Price has pushed out of the trading range formed after the pullback with some significant bars. Other gold stocks are showing similar signs. With these signs, it is now a good time to look for good entry levels on a pullback to the accumulation trading range on a number of stocks. For Gold Fields, this is also the yearly pivot point.
Buy $GFI - NRPicks 30 AbrGold Fields Limited is a company that operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Australia and Peru. The company also explores copper deposits and has interests in 9 operating mines with annual gold equivalent production of approximately 2.24 million ounces.
GFI is a company that performed well in 2020 despite the pandemic and benefited from movements in the price of gold.
Since March the price of its share has been located within an interesting channel, which could represent an opportunity, considering the next market rotations.
2020
- Revenue $ 3.8B
- Net Income $ 723M
- EBITDA $ 1.9B
- CASH $ 886M
- P / S 2.20
- P / B 2.27
- P / E 11.72
- LTDEBT / EQUITY 0.49
$GFI 30 years of Fibonacci Due to its chart history $GFI is a great stock to analyze using fibonacci extensions. These fibonacci extension levels have been price peaks going back 30 years. The current chart resembles the 1999 double bottom and move to the 2.618 extension, what I don't know is whether the 2.168 will be broken on the next rally or if significant consolidation needs to occur.
GFI Upward MomentumJSE:GFI is showing some upward momentum and we could see an upward move if it breaks higher than this morning 's opening. The stochastic and MACD are both confirming this move with their upward turns and the 3 and 15 EMA's have recently crossed upwards at quite a strong support level.