SBSW trade ideas
Sibanye Stillwater - Held up wellSSW held onto blue TL support (36-38 range) and is now looking like it wants break from this consolidation. Would like to see a move higher from here with an initial target of 45. Stop loss is a close below 34.
Sibanye Stillwater - LongPotentially a long opportunity coming up on $JSE:SSW.
The stochastic and the MACD both signaled this earlier on, but the EMA's have now crossed which confirms the trade.
We are looking for a target at around the 4800 level.
$JSESSW - Sibanye Stillwater: Potential Double Bottom ReversalCommodities, especially the stocks of diversified miners, have a tendency of having complex price patterns.
SSW is no exception and it was a challenge coming up with the best labelling of this chart.
The large structure I am looking at is an expanding flat labelled wave (A) to (C).
In an expanding flat, wave (B) makes a new high relative to the previous top.
Wave (C) has unfolded as an extended impulse.
It is too early to say a low is in at 3542 but if it is in, we could have a double bottom looking at where wave 5 of (C) terminated relative to wave 3 of (C).
Any longs opened should use 3542 as a stop-loss level.
SIBANYE - Sink or Swim?- Price is in a consolidation (range) and building energy for the next leg.
Will it be UP or DOWN? 🤔
Watching lower timeframes for breakout clues.
Sibanye- Is this a death cross?... Not much to say about this chart except... R30.00. If the death cross plays out. We could very well see that level before they release earnings and what happens after that, well...That's anybody's guess.
$SBSW: Sibanye looks strong here, low risk reversalInteresting play to join the trend in metals. Sibanye Stillwater Limited is a company that mines and recycles precious metals like gold, platinum, palladium, and rhodium in different countries. It also has projects to find more metals like lithium, copper, and cobalt. It started in 2013 and is based in South Africa.
$SBSW shows signs of a reversal of the recent bearish trend, could move big if it kick starts a bullish trend here. Risk is a drop under the consolidation area, upside is open ended if it behaves as per the arrows on chart.
Best of luck!
Cheers,
Ivan Labrie.
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.
Sibanye StillwaterCurrently oversold on lower timeframes which may suggest a short-term bounce into the 40 area; but this weekly chart suggest medium-long term weakness. I have a medium term target of 25 on it!
SIBANYE - Bear flag ??The stock has been under severe pressure giving up almost 20% for the month of February. The monthly picture like a potential bear flag, bulls will want to defend the swing lows to stem any further downward momentum.
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.
SSW - Approaching supportSibanye, like all platinum stocks has also been hard hit. Stock is approaching blue TL support (around 37) where I would expect some decent support. Should it fail to hold and possibly overshoot, the low 30's look like a great are to accumulate. Stop loss below 30.
Sibanye- 3 Key levels broken!I have pointed out the key levels which indicate a strong sell signal for this stock. Firstly, we have the breach of the 50 day moving average which was the first sign of weakness followed by the break of horizontal support (2). The most significant of all is break below the 200 day moving average which is the foremost sign of price weakness. It is starting to feel like the market is anticipating disappointing earnings on the 28th Feb, so I think you can target a short move to 40.50 for a quick profit. It could go lower but that would be a tidy enough profit.
SibanyeAfter turning bullish on JSE:SSW , the market decided to give us hands. One badly mismanaged position. At best we could've broke even on this trade.
Onto the next one.
Sibanye Stillwater: Unwind UnderwayThe majority of my research insights are published for clients and occasionally highlighted on this platform. To become a regular recipient of my research, including trade ideas, get in touch with me today for a brief discussion.
Follow-up: On 11 January 2023 I flagged this chart, highlighting the downside risk as the share traded at the upper boundary of a rising channel. Inserted is the original image and attached is the original post here on Trading View.
Sibanye Still-Water: Bearish WedgeSibanye-Still Water has had successive daily candles showing strong selling pressure around price level of R47. The expectation is for this pressure to culminate in a breaking of the wedge support.
The price target where a short position can be closed is the blue trendline with a drop of +/-10%.
SSW LongSSW trading in an upward channel on the daily.
55EMA crossing above 200EMA.
Stoch RSI Turning Up
TP 1 - top of channel : R54
TP 2 - 1.618 Fib : R58
Stop Loss : R44.70
NFA
SSW - Sibanye Stillwater breaking upGlobal Gold shares have started the year on the bang so i thought i'd look at some of the local counters on the JSE. Sibanye Stillwater has carved a lovely rounding bottom since May last year and it finally has broken above the horizontal resistance around the R50 area. This should move to approximately R63 which would be the target of the rounding bottom. You don't want to see it slip below R50 again so the stop could be relatively tight
SSW One of the shares from today's report.
Sibanye Stillwater (SSW) | As discussed in Monday’s note, trading at the rising trend line resistance. The 3-day RSI is 92 while the share is extended well above it’s 8/21-EMA range. Also note the share trading at the upper boundary (2x) the 20-day linear regression channel.
Greenwashing Can Only Take You So FarSibanye-Stillwater follows a number of broader correlations. Platinum, palladium, gold, gold miners, the SA40. But until now nobody has mentioned that--because of its earnings misses lately-- perhaps the market is pricing in SSW's overextended battery metals M&A strategy. Will they ever make money on their new lithium acquisitions? Is SSW even making money in its catalytic converter recycling segment? It is the largest such company in the world, so it's worth asking. In the short term macro, global electric vehicle production is going to slow; I don't see how SSW will profit from this in the near term.
Now to the technicals of my bearish bet. Breakdown from a Rising Wedge has formed into a Head & Shoulders with the second shoulder rejecting back under the 200 Exponential Moving Average after a notable increase in selling volume. Panning out on the longer term, this is a rejection from previous support of the topping structure. I do not believe that this is a breakout from an Inverse H&S nor a base breakout + retest move. I believe SSW has topped and will continue to move lower.
SSW - 1D - SIBANYESibanye has broken out of a rounding bottom pattern, and i have already entered the long position. If first target of R52 is reached it will confirm a larger rounding bottom and breakout will target R55 which will be my second target. Word of warning a rising wedge has formed, and a break to the bottom can be used as a stop. I would still hold and wait it out to the upside.
Sibanye showing upside - Cup and Handle - R55.86 targetCup and handle has formed over the last few months.
7> 21 but Price <200 MA - Almost fully bullish
Target R55.86
This goes in line with the Santa CLaus Rally and the rally for resources which are following the JSE...
Bullish Bias
SSW UNDERVALUEDWITH THE RESULTS PRESENTAION BEHIND THEM , CLEARLY A IMPROVED HALF IS AWAITING THE COMPANY AND WITH METTAL PRICES REMAINING STEADY , THERE MUST BE UPSIDE .
SSW IS DIVERSDIFIED AND THE BATTRY METALS GROWTH IS INTRESTING
Debt Level: SSW has more cash than its total debt.
Reducing Debt: SSW's debt to equity ratio has reduced from 124.2% to 23.4% over the past 5 years.
Debt Coverage: SSW's debt is well covered by operating cash flow (178.3%).
Interest Coverage: SSW's interest payments on its debt are well covered by EBIT (43.8x coverage).
SSW is good value based on its Price-To-Earnings Ratio (5.6x
ps DO YOUR OWN RESEARCH THIS IS MY VIEW
