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GOLD FIELDS LTD

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GFI trade ideas

Go for Gold(fields)!Just a follow up on my 12 November GoldFields call. Click to see that call: So we ended up testing that R127 support level and for now, it held up quite nicely. Seems like the Gold Price is somewhat oversold and the US Dollar Index ( ICEUS:DXY ) is still dropping like a rock. With today's break and close above the ultra-short-term 8-day Moving Average (EMA), I'm getting a lot more excited, with the next resistance level at R153 looking quite reachable. Should we see a break and close above that level, could place us back into the falling wedge, with R173 then becoming my next target. R205 still remain my short-term target on GFI. If you follow a stop-loss strategy, I would recommend looking at R123.50.
JSE:GFILong
by SchalkLouw
Gold Fields on a knifes edgeAgain, Gold Fields finds itself at a crossroad. The trading update from the company this morning looked positive, and we maintain our buy recommendation on the GFI. See our recent report: oldoak.co.za Technically, the share price still finds itself within the falling wedge pattern, with the bottom support-line being tested for the third time this week. We also see the share price getting dangerously close in breaking below the 200-day Moving Average (EMA). All three the shorter-term EMA’s (8, 21 and 50 day) are pointing downward, which indicated that the trend is not the Gold-bull’s friend currently. I would caution any short-term long position and would rather wait for confirmation that support did hold-up. Should the support not hold up, we can very much see the share price back at the R127 levels. Should support hold and we see a break and close above R185.44, could very much bring the R200 back into play. I would, however, recommend that all trader rather do nothing for now.
JSE:GFI
by SchalkLouw
2
Make or break for Gold Fields?Gold Fields broke below both its 8-day Moving Average (EMA) and medium-term support level yesterday. Looking at the US Dollar Index last night and this morning, I do think that this might turn out to be a false break. See the link to my US Dollar Index/Gold Idea of the 17th of October. With the USD Index now trading below 93, I do think that the next stop for the Gold price could very much be $1925/oz. Should this turn out to be a false break for GFI and we see a break and close above the 8-day EMA (R206.80), my short-term target the become R220. Also, remember to read our recent research report on the company here: oldoak.co.za
JSE:GFILong
by SchalkLouw
GFI LongGFI the sell of of Gold stocks was worse than expected due to the bad Job Data from america indicating a far bigger rise in gold to be expected we could see 4000 dollars the main instigators are? known as the trifecta trade against the dollar Government stimulus ( 4 trillion with no end in sight ) a Tec War with China ( Tik Tok and Wechat ) and the Corona Global Pandemic ( no vaccine in sight ) Giving Investors a once in a lifetime opportunity for Gold and Silver BUY>
JSE:GFILong
by surecanweight
The Return of the Golden-EraVery interesting level on Gold Fields ( GFI ). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the breakout price. The thickest part of the triangle is used. This means that should GFI break above the triangle, it could very much target R230. If I was a short-term trader, my stop-loss would be at the 50-day Exponential Moving Average at R136.63, which also coincides with the bottom of the triangle.
JSE:GFILong
by SchalkLouw
6
The Return of the Golden-EraVery interesting level on Gold Fields (GFI). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the breakout price. The thickest part of the triangle is used. This means that should GFI break above the triangle, it could very much target R230. If I was a short-term trader, my stop-loss would be at the 50-day Exponential Moving Average at R136.63, which also coincides with the bottom of the triangle.
JSE:GFILong
by SchalkLouw
Long GFI Taking a look at GFI, we can see a few indications that the price will move up higher. 1. Inverse Head and Shoulder formation - if you take a look on the daily chart there was an inverse H&S that formed in Mid Feb to Mid Apr, the formation played out and the price broke upward. There is currently an inverse H&S in play as it just broke through the neckline on 19/6/2020 2. Volume looks to be twice the average daily volume 3. MACD indicator has turned 4. The 10MA is just above the 20MA which indicates short term bullish momentum if it stays above the 20MA I will go long on this on Monday 22/06/2020 as close to R140.00 as possible my exit would be below the neckline as that may indicate a failed Inverse H&S Risk would be about 5% Reward - first target would be a target of 11.5% with an upper target of 21% 17553 seems to be the highest high since 2003 and I do not think the price will cross this resistance level easily
JSE:GFILong
by nicwal25