Sibanye investors in for a nasty surprise or sweet deal?

JSE:SSW is a prime example that the market is forever evolving and one needs to evolve with it to stay on top.The instrument was coming down in a mini falling wedge on the lower time frames, from which it broke out and began its rally without closing the gap between R25.80 and R26.90 even after coming so close to it. It must be borne in mind that market gaps are like windows that need to be closed eventually.

Considering the recent price action, there seems to be a medium bearish penant in play and for now price closed bullishly above the 50 DAY EMA. A temporary relief from the bulls may have price rebounce at around R30.50 to continue its rally during towards the R34.60 ~ R36.20 levels where it may run into resistance.

Taking the ingredients into account that there seems to be a bearish penant in play, and that price reversed before closing the lower market gap, Investors will need to watch the R34-R36 resistance zone closely as price may make a nasty turn towards the gap once Earnings & Revenue data comes out on Tuesday the 29th of August 2023. bearish reversal patterns on the lower time frames will need to be checked carefully and caution taken if they develop steeply over tomorrow and Monday's sessions. A strong reversal from this resistance zone also puts the possibility of price trickling down to R15.40 on the table.

Long positions may be added onto only when price is trading and holding well above R36.60