randgold - rrs daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...44l5Fs1jt5KoxRGVtXo=

i dont like the look of from a long or bullish perspective.

possible island top gap down on the daily, bounced of the 200 day ema line, but that move could be just a dead gap fill move up...

weekly possible showing h&s top...

careful with longs imvho....unless can close above the 7600p

atb, wdik, dyor,
trendfriend

Hi All,

Could anyone provide an updated view on this please.
Ta
G

dl.dropboxusercontent.com/u/4899609/rrs19thsept.png

this should be a free trade now
This filled the gap perfectly when ronnie mentioned this the other day Then it bounced hard.


dl.dropboxusercontent.com/u/4899609/rrs17thsept.png

This gapped down today and then bounced off gap support.

This filled a gap perfectly and then bounced of the gap and today a possible island formation as its gapped up.

Long @ 4790
SL below 4616

This had a 123 low breakout from the other day...another one i missed
this is from the chart tips for this week. so well done to the ones that got in.


dl.dropboxusercontent.com/u/4899609/rrs18thjuly.png

Id suspect its heading towards the gap support at 3689...
You have to wait for a 123 low to form on this before you jump in...Its still just grinding lower.It almost had a 123 set up but failed with the trend line near by.
so sit tight and wait it out...


dl.dropboxusercontent.com/u/4899609/rrs27thjune.png

Where next for RRS?

Do not buy any gold from the website I mentioned below.... they take atleast 12% as margin... so avoid them.

Hi Not just anytrader,

If you want to buy gold bars, I know few jewwllers who buys in wholesale.. I buy from them too .. where I can get cheaper than actual gold price.. let me know

ta
G

Hi Not just anytrader,I bought it from www.goldmadesimple.com/

You can buy with current market price which is updated every seconds.

managed to get mine at $1287, only because I was watching the price.

ta
G

hi paitech if you don't mind me asking where and how are you buying the bars from ?

I think the demand for physical gold will be still there... so I am buying gold bars now, bought this morning when the price dipped to sub 1290$.

I know, the gold may go down further, but I wont mind buying and holding some bars.

ta
G

I'd echo Remo's sentiments there too...

From a real-world (not quite fundementals!) viewpoint, the gold miners are in a tough position, and here's why:

The cost of production, whilst varying for different companies, was around $1280ish per ounce last year. Having reviewed various research notes, it looks like the production costs of an ounce sit between $1000-$1280. You can pretty much set the floor to $1140 if you like!

Some miners like Barrick, can produce an ounce at less than $500 (lucky them!), but this is more of an exception to the rule.

Before entering any gold mining plays, I'd pay close attention to the price of Gold right now. Granted, we all have differing points of view as to what is going there (personally, I think the downward move is false, but anyway!).

I'll be heading over to the gold thread (excuse the pun), to put up a chart or two later this afternoon!

Meanwhile, good luck traders and share-investors. For the latter, I feel and share your pain.

This ones broken through the support.
Id avoid for the time being as this has been breaking all the supports. This one requires wide stops so best to avoid.This had a recent 123 low formation but that failed.So longs are risky again.



dl.dropboxusercontent.com/u/4899609/rrs20thjune.png

RRS is it at double bottom or further to go down?

Will add charts asap.

ta
G

Gutted
This bounced of even on the second attempt.
I only made a small profit from the initial bounce. This has moved 150 points from the entry.
Oh well....back on the sidelines waiting to see what happens next

This is testing the level again...
Its way too risky for another attempt at long so id stand a side for the time being...
Its never good when it bounces of a key area then retest the same level latter on in the day. Its more likely to go through....
Gold currently is down over 120 points so hence the risk

This should be a free trade now

This ones currently at the 100% fib retracement so worth a long with a tight stop.
This ones a day trade and very risky as this can move very fast. stops would have to be about 50 points due to the volatility. as i type its at 4471 just below 4480 support.
Like i said this is very risky

Long standing gap being filled with a vengeance lol

dl.dropbox.com/u/4385922/RRS%20hourly.png

A close above the 20 MA daily line could potentially test the down trend line again

I think the recent sell off could have been too much.

There is still a MACD and OBV bullish divergence

Trend line must be broken before this can go up. The last rise bounced off the trend line - missed that short opportunity. I am planning to go long once the trend line is broken.

any thoughts?

dl.dropbox.com/u/4385922/rrs.png

waverider2,

Appologies, didnt read ur message till today..

ta
G

www.proactiveinvestors.co.uk/companies/n...ts-broker-55454.html

Randgold Resources' (LON:RRS) solid organic growth and decent gold price leverage make it the best bet among the mid-cap gold explorers, suggests Numis.
The broker says that while operating in Africa has its political and technical challenges, Randgold’s impressive track record makes it a defensive gold bellwether with a well-deserved premium rating.
Numis expects production to step up in 2013 and 2014 as mine issues at Tongon (Ivory Coast) subside, Loulo-Gounkoto (Mali) pushes ahead and Kibali (DRC) comes on stream.
Production will rise to over 1.3mln ounces per annum over the next few years, with costs falling below US$600/oz predicts the broker.
In 2013, output should rise to 935,000oz, as Kibali comes online in the fourth quarter. Further expansions at Loulo-Gounkoto, Tongon and Kibali may also be possible though currently are ore body or plant constrained.
Earnings are tipped to rise by 18% in 2013.
Numis adds that Africa is a tricky place to operate with ongoing political issues at Mali, Cote d'Ivore and the DRC and there could be "further wobbles" during the course of this year.
"Randgold is peer-leading in its approach to African politics and is likely to be able to navigate through the crossfire," concludes the broker.
Shares were 3% lower at 5,215p

It bounced off the down trend line and the channel that was in place for the last few weeks.

Break of that channel and the rejection at the trend line + the fall in gold price is seeing this drop like a stone.

False break-out to the upside now this has gapped down and broke the trading range to the downside

Hi Paitech,

I know you arête a gut feel trader. What do you think of the recent price action?

Cheers mate

End of April is a good time to start looking into gold.

I am working on a strategy to get into either Fres or RRS and I think the bottom is being made at the moment.

5300 very good historical support and it seem there is a MACD bullish divergence and a break of the lower trendline for OBV, prior to the actual price action. Volume always precedes price...

Apologies - free charts so not so accurate

Charts attached:
dl.dropbox.com/u/4385922/rrs2203.png

OBV
dl.dropbox.com/u/4385922/rrs_obv_2203.png

comments welcome

Remo - may i add that the downtrend line for OBV has also been broken....

It looks bullish at all counts:

MACD - there is a triple bullish divergence
OBV - downtrendline broken
RSI - on the up

Looks promising IMHO

This is in a trading range of 300 points.
If it breaks out ether way then worth a long or short depending on direction of breakout.
One to keep an eye on.
This is a very volatile share so bear that in mind
Long above 5630
short below 5331
I always place my entry or stops 5 pips below or above the stated levels

Did anyone managed to go long on this? Perfect Hammer? and I guess this was the reversal point last time... around 5330p.....

dl.dropbox.com/u/48916784/RRS-21.02.2013.jpg

This is one of the charts I have put up in the interesting chart section.
I'm expecting this to go lower towards the 45 area . Full 100% retrace???

my last view was "risky scalp" at fib 61.8...it was indeed risky, but it did bounce before it then fell back (sort of expected) and for now (from memory) 53.50-54 was a number that used to be pivotal and after any backtest will probably head there...my view for gold at the minute is sell the bounce

last view



tonights view

Hi Remo,

There was another thread on this, but couldnt find it...

Now its gone below 5780p I think you mentioned 61.8fib level, whats your view on this.

ta
G

Questor share tip: Randgold Resources shares will shine
Randgold Resources production profile means its is a buy even if gold price fall, says Questor

www.telegraph.co.uk/finance/markets/ques...ares-will-shine.html

This one is on its way....possible 123 low breakout today if it closes above 6182

Did you call that trade almost to the low of the day at 5965

My stop got hit. IG Index low was 5960

Good finish for those whose stops survived.

Order just got filled

I was watching this from time remo put his chart..
and I almost pressed buy at 5775p when I saw the value and remo's target... but chickend out...

Now tehre are target for this of around 85 to 90£ from many.

attaching my chart... and on sidelines..

dl.dropbox.com/u/48916784/RRS-24.01.2013.jpg

123 low breakout yesterday and gapped up today

I have an ORDER to open a Long position tomorrow at bottom of todays gap (6030)

SL below 5765

hi paitech
just saw this post and was about to post about randgold.

That was the fib level to go long at.
Missed the 1100 point target by about 100 points from the short earlier. so close enough when you think about the numbers involved.
fib numbers are always a good level to top up on especially the 61.8 fibs If you use good stops.

But now there is a possibility of a 123 low as well right at the support level.
If this breaks above and finishes above 6023 then possible 123 low.
The stops have to be below the 2 point which is at 5790 so nearly 230 points away.
This share is not for the weak as can give you heart attacks



dyor

Hi Remo,

This has come to your level of fib at 5780p.

Would you still go long at this level ?

ta
G

Svg123
Yep the fibs look right.

Pls have a look at : gyazo.com/43dd4e969fc26a92670f416d0dcdf003

Does it look alright? Support on daily @ 5620

Can someone post a chart of Randgold with key support levels.
Thanks

waverider
looking at your chart its hard to be accurate. 6000 is a big round number .The price has gone through this many times and 6000 has not really played a role on this so be very careful.Well it has played a role but the price has moved quite far from this level then pulled back.So it would require your stop to be very wide. My first touch rule is used on accurate levels and not roughly so bear that in mind mate.. This share has the potential to move hundreds of points at a time so you need a accurate level before attempting the first touch rule.
The 1100 point target (previous thread of mine)is still in play on this one and that takes it to 5700. The 61.8 fib level is at 5780.
id go long from the 61.8 level but the stop may have to be 50 points atleast.Even hundred.
This currently bounced of the 50% fib today(just) so it shows the fibs are working.
Dont take it the wrong way mate.I just thought i would explain my rule a bit clearer.



DYOR

Its looking like it will head to the support area of 6000?

Following Remo's first touch rule- maybe a long anyone?

dl.dropbox.com/u/4385922/Randgold.png