RANDGOLD

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