The Sibanye Gold (SBGL) weekly chart shows the following signs:
The Price of SBGL made a Long movement ($4,5 to $9.65) and after a correction it moved from $8 to $11 over the Tenkan Sen and continued the bullish trend. The MACD is on bullish sign and the RSI too. The Stock is over the KUMO Cloud and the Tenkan-sen is over the Kijun-sen. Last friday SBGL closed at $10.76 on the support line.
But I expect that the stock will turn to short because of the existance of a first time engulfing bear candlestick in this uptrend.The first support is calculated at $9,65.
The Price of SBGL made a Long movement ($4,5 to $9.65) and after a correction it moved from $8 to $11 over the Tenkan Sen and continued the bullish trend. The MACD is on bullish sign and the RSI too. The Stock is over the KUMO Cloud and the Tenkan-sen is over the Kijun-sen. Last friday SBGL closed at $10.76 on the support line.
But I expect that the stock will turn to short because of the existance of a first time engulfing bear candlestick in this uptrend.The first support is calculated at $9,65.
