SIBANYE - Long IDEA (Countertrend)The stock looks set for a relief rally after closing a gap from April 2020 and printing a swing low of R25.60 - RSi is bouncing off oversold and the bullish price action yesterday suggests a move up . - Positive RSI divergence TP & SL on the chartLongby Trader-Dan5
UPDATE: Sibanye is all but gold right now :( More downside Since the last update, Sibanye formed a major Inverse Cup and Handle. The price broke below and has been coming down. Just to make matter worse, another M formation formed in the interim, confirming it's strength to the downside. 200>21>7 - Bearish RSI<50 Target remains at R16.89 Problem is most market makers don't even offer short CFDs and a script to follow this market, so we can only watch the analysis play out. Shortby Timonrosso7
Our opinion on the current state of SSWSibanye (SSW) is a mining house which has been on a rapid acquisition trail accumulating platinum and gold mines in South Africa and America and is now broadening its scope to include base metals and minerals, especially so-called "green" metals. The company is run by Neal Froneman who is well-known in the mining industry for his toughness, expertise, and experience. The acquisition of the Stillwater palladium mine in America was a brilliant move, but it added $2,2bn of debt to SGL's balance sheet which left it very highly geared. That debt has now been substantially cleared. Sibanye has also bought Lonmin for shares which gave it a very valuable extraction plant but resulted in more than 13 300 job losses. Sibanye is now the world's largest producer of platinum group metals (PGMs). Froneman has said that he intends to retire in about 2024/5 but intends to double the size of the company before he does. The price of PGM's has been rising, especially rhodium and palladium (produced by Stillwater). Sibanye is also considering moving into the base minerals used in motor vehicle batteries like vanadium, copper, nickel, and lithium. On 1st June 2021 the company announced a share buy-back program to repurchase up to 5% of its issued shares. In its results for the year to 31st December 2022 the company reported a profit of R19bn compared with R33,8bn in 2021. The CEO, Neal Froneman, said, "Global macro influences, including significant inflationary cost pressures globally, ongoing supply chain disruptions and a deteriorating economic outlook, which reflected in lower demand and lower prices for the metals we produce". On 30th May 2022 the company announced that it had received notice from Appian Capital for it to defend itself in a court case arising from its decision to back out of a deal to buy two mines for $1,2bn. On 30th June 2022 the company announced its intention to increase its stake in Keliber, a Finnish lithium producer to 80% at a cost of about R7,7bn. On 13th March 2023 the company announced that there had been damage to the Stillwater shaft infrastructure which would temporarily affect production. In its results for the six months to 30th June 2023 the company reported headline earnings of R5,89bn compared to R11,94bn in the previous period. The company said, "The impacts of the precipitous decline in PGM prices and operational disruptions at our US and European regions, were cushioned by a significantly improved financial contribution from the SA gold operations".Technically, the upward trend which has been in place since July 2018 came to an end in March 2021 reflecting weaker commodity prices, loadshedding and the flooding at Stillwater. A notable achievement was the 5-year wage deal which locks in wage increases of 6,3%. We believe that in time Sibanye will continue to make new all-time record highs in time in due to superb strategic management - so this drop in the share price is probably a buying opportunity. Froneman believes that Sibanye shares are undervalued and we agree with him, but everything will depend on the prices of the metals which he sells.by PDSnetSA3
Sibanye investors in for a nasty surprise or sweet deal?JSE:SSW is a prime example that the market is forever evolving and one needs to evolve with it to stay on top.The instrument was coming down in a mini falling wedge on the lower time frames, from which it broke out and began its rally without closing the gap between R25.80 and R26.90 even after coming so close to it. It must be borne in mind that market gaps are like windows that need to be closed eventually. Considering the recent price action, there seems to be a medium bearish penant in play and for now price closed bullishly above the 50 DAY EMA. A temporary relief from the bulls may have price rebounce at around R30.50 to continue its rally during towards the R34.60 ~ R36.20 levels where it may run into resistance. Taking the ingredients into account that there seems to be a bearish penant in play, and that price reversed before closing the lower market gap, Investors will need to watch the R34-R36 resistance zone closely as price may make a nasty turn towards the gap once Earnings & Revenue data comes out on Tuesday the 29th of August 2023. bearish reversal patterns on the lower time frames will need to be checked carefully and caution taken if they develop steeply over tomorrow and Monday's sessions. A strong reversal from this resistance zone also puts the possibility of price trickling down to R15.40 on the table. Long positions may be added onto only when price is trading and holding well above R36.60 by Source_Sailor2
Sibanye Stillwater not so "still" in the long term forecasts.JSE:SSW slipped off the ladder in March 2022 from its all time highs of R80.22, almost exactly 2 years after it had found support at R15.40. Considering the latest price action, we can see price caught in a decending channel and is also now trading around the 50 DAY EMA with a falling wedge. Considering the market gap between R25.80 and R26.90 The instrument may continue painting a falling wedge until this gap closes and support is found. Price is then forecast to creep bullishly to the R34.60 ~ R36.20 levels where it may run into some resistance. Short term long positions may be considered at the R25.80~R26.90 levels and closed if the instrument starts trading below R24.90. as probabilities of it inching lower will be on the table. Scenario1 (Probable after finding support at R25.80) : SSW heads for and breaks the resistance, then trades and holds well above R37.30. This may see it trading bullishly to R39.62 for another higher gap close on the daily time frame. Next levels to look at would be R45.78, R52.40 and R76.60. Scenario 2 (Possible at the resistance): The R34.60 ~ R36.20 levels hold as resistance and price reacts strongly bearish, sending the instrument plummeting to R15.40 over the medium term to seek and retest support. Best to wait and see if price reacts STRONGLY bearish here or it consolidates in the form of a bullish continuation pattern.by Source_Sailor2
Sibanye - Will a gap fill lower down provide some relief..?Sibanye, like the rest of the sector is in downtrend. The only level of support I can find at this stage is a gap that could possibly filled at 25.80 which dates back to April 2020..! by Trad3r_164
SBSW | Its Almost Golds Time | LONGSibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper. It owns the East Boulder and Stillwater mines located in Montana, the United States; and Columbus metallurgical complex, which smelts the material mined to produce PGM-rich filter cake, as well as conducts PGM recycling activities. The company also involved in the Kroondal, Rustenburg, Marikana, and Platinum Mile operations situated in South Africa; Mimosa located on the southern portion in Zimbabwe; the Driefontein, Kloof, Rand Refinery, and Cooke surface operations located on the West Rand of the Witwatersrand Basin; and the Beatrix situated in the southern Free State. In addition, it owns an interest in surface tailings retreatment facilities; the Marathon PGM project in Ontario, Canada; the Altar and Rio Grande copper gold projects in the Andes in north-west Argentina; the Hoedspruit; and the Burnstone and southern Free State gold projects in South Africa. Sibanye Stillwater Limited was founded in 2013 and is headquartered in Weltevreden Park, South Africa.Longby DivergenceSeekerUpdated 337
SIBANYE - Double Bottom ReversalThe PGMS are finally catching a relief bid and SSW has since got back over the down sloping 20ema. While bulls hold this moving average and stay above swing lows, price looks set to go back towards the down sloping 200ema / resistance zone R36.50-R38.70 NB: There is a open gap around R39.50 A double bottom is a bullish reversal pattern that shows a trend change from a downtrend to an uptrend. It is made up of two low points that are roughly equal, with a moderate peak in-between, forming a “W” shape on the chart. The pattern is confirmed when the price breaks above the peak level.Longby Trader-Dan1
SBSW Very cheap.SBSW is currently extremely cheap. It has some political risk due its projects all around the world. 8% dividends currently. H&S? Stay safe, good luck.Longby GabrielK5333
UPDATE Sibanye Stillwater is about to waterfall down to R16.89Since the last update, Sibanye is heading to the first target. We have a long way to go, so you can see the update here. There has been an Inverse Cup and Handle form on Daily. This is definitely deemed a medium term trade. But luckily with shorts, we earn interest income. 200>21>7 - Bearish RSI<50 Target R16.89 ABOUT THE COMPANY Sibanye Stillwater is a South African mining company that specializes in precious metals mining, particularly gold and platinum group metals (PGMs). The company was formed in 2013 as a result of a merger between Sibanye Gold and Stillwater Mining Company, an American PGM mining company. Sibanye Stillwater is headquartered in Johannesburg, South Africa, and has operations both in South Africa and the United States. The company operates several mines in South Africa, including the Driefontein, Kloof, and Beatrix mines, which are all located in the Witwatersrand Basin. Sibanye Stillwater's PGM operations in the United States are centered around the Stillwater and East Boulder mines in Montana. These mines are known for their production of palladium and platinum. Sibanye Stillwater is listed on the Johannesburg Stock Exchange (JSE) in South Africa and also has a secondary listing on the New York Stock Exchange (NYSE).Shortby Timonrosso1
SibanyeGravity seems to be strong for PGMs miners. After several attempts to stay above R32, JSE:SSW has given up. R22 does seem like a possibility. Froneman, do something. by Trend_Trader_JSE110
$JSESSW - Sibanye Stillwater: Double Bottom InvalidatedOn the last update I was not overly confident that a bottom was in at 3542, link below. I am maintaining the bigger structure and only updating the wave count from 5245 for wave 5 which looks to be unfolding in a five wave impulse. Short the rallies below 4500Shortby Loyiso_BlaqueSoros_Mpeta111
Probabilities MTN, SHP, SSW, AGL An extract from my research note. Potential price path (short term) for some of our major shares. #FunWithChartsby techpers2
Sibanye Still-Water: Turning BearishSibanye has gone lower than 20 December & also closed the week outside of rising wedge channel, it has failed the daily cycle, price will begin to trend downwards. We are close to Platinum reaching a low, it’s rebound will attract buyers in Sibanye causing price to close above the green trendline. It is the swing high that forms thereafter that will indicate right time to go short. Meantime we will be watching for blue trendline to be good support. There’s scope to go long on bounce off that support then go short on swing high squeezing profit level to level.Shortby runyamhereUpdated 0
SibanyeIt obviously depends on how far you zoom out and how you draw the trendlines. However, the chart doesn't paint a good picture for JSE:SSW Buyers are needed to step up and save the stock. No position.by Trend_Trader_JSE1
Sibanye could have a MAJOR bounce from here to R45This is definitely not my usual type of trade setup. I don't like predicting market reversals. I don't like catching the bottom and the top I don't like trading without a solid chart pattern So I am not taking this trade, but showing a major observation. There has been a solid support forming over the last few months. Every time, Smart Money brings the price to this level it bounces up and hard. So we can expect Buying again from Smart Money as they buy into the Sell SIde Liquidity from retail traders. Then once we get it back to R45.00 and it breaks above there, then we'll really see some serious upside. The risk is low and the reward is high, so if you like these kinds of trades - this is one for the books. Longby Timonrosso226
Sibanye stillwater approaching support trendline We can see SSW approaching an up trendline that has supported the market multiple times in the past. For entry I will wait for the market to test the trendling and close above it, I will wait for bullish confirmation pattern to enter Longby siya_south1
SIBANYE - Long IDEAAs 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. Longby Trader-Dan223
SSW: speculative short-term tradeThis is the 4-hourly chart. It will appear that a rounding bottom pattern is developing. The price action is busy with a pull-back. A pullback refers to a temporary reversal of the prevailing trend in the price of a share. Will place a stop-loss at 3950. The target price is set at 4650. A rounding bottom pattern can sometimes develop into a cup and saucer pattern. The cup and saucer pattern is a bullish continuation pattern that resembles a cup and saucer, with a rounded bottom followed by a small downward price move (currently busy with this), then a flat consolidation, and finally a breakout to the upside. Longby Peet_Serfontein2
SIBANYE - UpdateAfter the recent post where i highlighted that JSESSW was building up energy and ready for a new leg, the break came explosively yesterday with a +11.1% move up through the 200dma. Price is now into a resistance zone (R42.60-R44.50 where bulls will likely need to regain their breath. A 'gap' fill is also at R43.43 I will continue to monitor how the price action develops here to see if this move will be sustained and have enough momentum to target the next swing high around R50.Longby Trader-Dan222
ssw will dumpits a long till 4500 then after it a huge short till rest of the yearShortby kagisomoela443
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. Longby Trad3r_162
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.Longby RossLarter2