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DRD-GOLD

#DRDGOLD R14.00 a massive level- watch for reversalAfter reaching a high of R24.50 in May 2023, DRD has retraced right back to the change of polarity point and 200 week moving average (green). The level of R14.00 also happens to be the 61.8% fib retracement level joining the swing highs from May 23 and Swing lows from Sep 22. Putting this all together tells me that the 14.00 level is a high probability of leading to a reversal in price and i will be watching this closely in the week ahead for a long entry. Also note the divergence on the RSI which has not formed a lower low in tandem with price.
JSE:DRDLong
by MarcoOlevano
DRD to benefit from gold uptrendDRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. The company is involved in the exploration, extraction, processing, and smelting activities. It recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. The company was incorporated in 1895 and is headquartered in Johannesburg, South Africa. Fundamentals: Profitable company - positive Operating cashflow - positive Gold uptrend Technical: Trade volume high since March 2023 Resistance target 17.72 is June 2020 high Trending above 50,200 DMA Positive directional movement Risk reward 2.23 Stoploss 9.54
NYSE:DRDLong
by tradingswift
DRD showing mixed signals with bullish bias - Target R15.00Uptrend channel is continuing for DRD Gold Price >200MA - Bullish 21 >7 - Bearish RSI = 50 bearish divergence. Target R15.00 Fundamentals: DRDGOLD, a company, is getting ready to release its results for the last six months of 2022. They are telling shareholders that they think their earnings per share and headline earnings per share will be between 59.5 cents and 68.1 cents per share, which is an increase of 2.6% to 17.4% compared to the same period in the previous year. The increase is mainly due to higher revenue, which went up by 6% to R2,654.3 million. OVERALL: There are mixed signals between technicals and fundamentals, but with the upward channel still intact, my bias remains more bullish.
JSE:DRDLong
by Timonrosso
DRD Gold perfect for the picking to R14.12Cup and Handle has formed on DRD and is looking pretty good. There has been a retracement where it will be testing the uptrend as well as the Brim level on the Cup... Also Moving Averages have crossed up with 7>21>200 Fundamentally, I am bullish on gold in the medium to long term. Despite the interest rate hikes, the chart is neglecting them and is showing the price wants to trend up. Mostly because investors are losing their faith and trust in crypto and they'll be investing in safe havens like gold. If you see here the chart is screaming a buy... Target R14.12
JSE:DRDLong
by Timonrosso
DRD Gold theory of bullish actionYellow vertical lines indicates the changes in market movement when GOLD chart is at trough. The parallel lines indicate a mock charge, after the market traders realize that GOLD is at a low, bullish action follows backed by the DT+ and DT- intercept of the DMI. The above movement occurred twice, indicated with the 2 yellow vertical lines. It is my view that such a third occurrence is possible, (green vertical line at current position) with low GOLD price, action to be confirmed with intercept of DMI. DRD's balance sheet is in good shape and dividend payout shows promise. Please leave comments below.
JSE:DRDLong
by John2506
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