From a note that I wrote:
If you would like to read the full note, you are more than welcome to reach out to me.
At the top of this week I updated my short term view on GFI, highlighting the levels which I thought were important.
The structure I saw was a megaphone technical formation where the upper boundary is potentially an ultra short term selling range.
This level also coincides with the prior breakdown level in April 2022.
The below chart is 'current', reflecting today's price action
Notice the long upper tail thus far reflecting ‘some’ ultra short term selling?
Most recently (28-Feb) I highlighted GFI (at R166) with the re-test of the prior breakout level and 'unfilled gap' being the re-accumulation zone. The share now trades at around R223 (a +34% move over the three and a half weeks)
The original (time-stamped) chart is shown below.
I must admit was a little too conservative on my call around gold shares as DRD Gold has now appreciated by 68% over the 5 months.
My idea was for a long entry at 957c on 24 October 2022.
I will likely update medium and long term views on the gold shares in the coming days.
If you would like to read the full note, you are more than welcome to reach out to me.
At the top of this week I updated my short term view on GFI, highlighting the levels which I thought were important.
The structure I saw was a megaphone technical formation where the upper boundary is potentially an ultra short term selling range.
This level also coincides with the prior breakdown level in April 2022.
The below chart is 'current', reflecting today's price action
Notice the long upper tail thus far reflecting ‘some’ ultra short term selling?
Most recently (28-Feb) I highlighted GFI (at R166) with the re-test of the prior breakout level and 'unfilled gap' being the re-accumulation zone. The share now trades at around R223 (a +34% move over the three and a half weeks)
The original (time-stamped) chart is shown below.
I must admit was a little too conservative on my call around gold shares as DRD Gold has now appreciated by 68% over the 5 months.
My idea was for a long entry at 957c on 24 October 2022.
I will likely update medium and long term views on the gold shares in the coming days.
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