Sibanye-Stillwater Ltd. (SBSW) is one of the world's largest primary producers of platinum, palladium and rhodium and is also a top-tier gold producer. It produces other platinum group metals (PGMs), such as iridium and ruthenium, along with chrome, copper and nickel as by-products. Its chart and indicators are interesting, so let's check them out.
In this daily bar chart of SBSW, below, I see a beautiful (did I say beautiful?) saucer bottom formation. Since June, prices have made a clear rounding bottom. Now prices are trading above the rising 50-day moving average line and above the bottoming 200-day line. The On-Balance-Volume (OBV) line has been very stable since July and has firmed since early November as buyers of SBSW have become more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of SBSW, below, I see an improving picture. Prices are trading above the still-declining 40-week moving average line. The OBV line has been stable since July. The weekly MACD oscillator is ready to cross the zero line for an outright buy signal.
In this daily Point and Figure chart of SBSW, below, I can see an uptrend and that prices have reached an upside price target in the $12 area.
In this weekly Point and Figure chart of SBSW, below, I see an upside price target in the $17 area.
Bottom line strategy: Traders should buy available weakness, risking below $10 for now. Our first price target is $17.
