After reaching a high of R24.50 in May 2023, DRD has retraced right back to the change of polarity point and 200 week moving average (green). The level of R14.00 also happens to be the 61.8% fib retracement level joining the swing highs from May 23 and Swing lows from Sep 22. Putting this all together tells me that the 14.00 level is a high probability of leading...
W Formation is forming on DRD Gold. It's been a slow process, considering how many gold stocks have been outperforming the index itself. But we are seeing signs that it's nearly DRD Gold time to shine... The price is close to the neckline which needs to breakout. We also need to see a confirmed close and strong move above the 200MA. The target remains at...
DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. The company is involved in the exploration, extraction, processing, and smelting activities. It recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. The company was incorporated in 1895 and is headquartered in...
Uptrend channel is continuing for DRD Gold Price >200MA - Bullish 21 >7 - Bearish RSI = 50 bearish divergence. Target R15.00 Fundamentals: DRDGOLD, a company, is getting ready to release its results for the last six months of 2022. They are telling shareholders that they think their earnings per share and headline earnings per share will be between 59.5 cents...
Cup and Handle has formed on DRD and is looking pretty good. There has been a retracement where it will be testing the uptrend as well as the Brim level on the Cup... Also Moving Averages have crossed up with 7>21>200 Fundamentally, I am bullish on gold in the medium to long term. Despite the interest rate hikes, the chart is neglecting them and is showing the...
DRD Gold shares are inclined upward, and the move may equal the previous high.
the breakout on the channel we will see a new rally on the share price the test can continue further as indicated on the support that can be a good buy before the breakout
Yellow vertical lines indicates the changes in market movement when GOLD chart is at trough. The parallel lines indicate a mock charge, after the market traders realize that GOLD is at a low, bullish action follows backed by the DT+ and DT- intercept of the DMI. The above movement occurred twice, indicated with the 2 yellow vertical lines. It is my view that...
Nice tripple divergence setup here on DRD Gold. (RSI lower highs not confirming 3 higher highs in price). After an insane rally doubling in price over the last month, we should start to see a pullback here to at least the 38.2% fib retracement @ R23.85
All the gold stocks have shown a week pullback attempt and has reached oversold conditions. Time for the markup to continue.
Using the Wyckoff reverse use of trendlines it is possible that we have reached the oversold line. We are now looking for some (not necessary to be a lot) volume to trigger the next step up.
With the increase in the gold price and especially the Rand price of gold there is interest in the sector. DRD Gold was not one of the favourite gold stocks for investors but there is a shortage on the market so investors are turning to what's left. With the markup starting, most of the gold stocks are showing ease of movement on low volumes but we are still...
A key reversal bar today has signalled the formation of a last point of support. Looking for the markup out of the trading range. Gold is the place to be.
DRD Gold has dramatically lost half its value in about a week. However, after testing the bottom of the previous trading range it formed a higher high (HH) and could not stay below the yearly pivot point and 200 Day SMA. A strong reversal bar indicates an impending markup for the stock. Increases have been on volume indicating demand.
DRD Gold has attracted buyers attention. Good volume has quickly pushed price and after a pause at the end of 2019 it is again breaking higher. Waiting for a test of the breakout level to catch the markup higher.