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Analysis: #NYSE $SBGL

Case 51 #Sibanye Gold Ltd ADR

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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#SBGL 1/5
Sibanye Gold got hammered in 2016 and turned bearish but 2019 has seen this #stock climb steadily.

SBGL 2/5
Chart 1
Monthly Chart: Price failed to close below the monthly Fib. 0.942 but had been underpinned by the SMA 20 for the last 2 years. But by Feb. 2019 price managed to close above both pivot resistance and SMA 20. Currently trades just below the synthetic resistance.

SBGL 3/5
Chart 2
Weekly Chart: The main #SMAs are currently supporting the uptrend. Synthetic resistance at 7.90. A close above will quickly target 8.77-9.00. Failure to break above will lead to a #DoubleTop and prices could drift lower.

SBGL 4/5
Chart 3
Daily Chart: The #Strategy is printed on the image

SBGl 5/5
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