Sibanye Still-Water: Turning Bearish

Feb 10, 2023

Sibanye 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.

Apr 9, 2023

Note

Price for SSW has constricted into a triangle, it has time to move into a daily cycle high. Would need a close watch where it breaks.

Jun 4, 2023

Trade closed: target reached