SIBANYE - Long IDEA
As mentioned in the post before, a cooling off period after the strong run up was to be expected.
Price has pulled back to the 20 day moving average and bulls would ideally like to see the R39.60- R38.80 levels hold.
Failure here will likely see R37.00 tested again .
Stops can be placed under R37 to target the above resistance zone (R45) and possibly for a cup and handle pattern to evolve which will target a lot higher.
Price has pulled back to the 20 day moving average and bulls would ideally like to see the R39.60- R38.80 levels hold.
Failure here will likely see R37.00 tested again .
Stops can be placed under R37 to target the above resistance zone (R45) and possibly for a cup and handle pattern to evolve which will target a lot higher.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.