An interesting mining company we are highlighting this week is Randgold Resources. The company’s share shows several signs of gaining strength, the face of on the rise. With support also from the gold that is in a clearly positive momentum as a result of the political unrest in the united states, we think it bodes well for the future development of the…
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Randgold Resources is a mining company founded as late as 1995, with roots and headquarters in St. Helier Jersey.
The company’s share exhibits positive attitude, after we clearly left the point of equilibrium 7 200 behind us on Friday. Point of equilibrium is a price level which noted the significant volume of the past three years, and in the chart below, we see a clear traction against this price level last year.
Sign of strength arose in the context of this dissent, then we noted the significant volume when we left the point of equilibrium on Wednesday, which means that we now see gaining strength for further rise…
We have, in short, a clear technical resistance level at 7 the 700 in front of us. The price level is also high for the year, which means that we expect a certain opposition from the sellers here.
Further positivity was noted, which can provide support to the outbreak and a further rise.
The gold that is in a positive trend after the outbreak of 1265 dollars, as a result of the political unrest in the united states that have received the u.s. dollar in the case, is expected to continue further north.
In the long term, would an outbreak and the establishment of 7 700 provide the opportunity for a rise against 8 600 for Randgold Resources, however, the approaching first sentimental price 8 000 in the future.
Even if we have such a significant sentimental price, we do not see any heavy volume at this price level.
The company’s previous interim report, may 4, gave a positive momentum, and the turning point during the 100-day moving average.
After a clear rise during the month of may,, however, we see support for further strength and attractive upswing in the future.
We see a köpläge after the eruption and establishment of the 7 700, for a rebound to the initially 8 000, but there is room to rise against 8 600 in the long term, if the positiviteten as reflected in the market persists.
We see an attractive risk/reward, which means we see a köpläge after the eruption and establishment of the 7 700. Our målkurs lands on 7 795, but we see the opportunity to rise against 8 600 in the long term. About the weakness, however, would occur in a step over 7 700, we take a stop loss relatively quickly at 7 670.
Randgold Resources has also recently clearly left behind medeltalstrion with 50, 100 and 200-day moving average.
The shares are included in the british storbolagsindexet the FTSE 100 and traded on the London stock exchange, under the symbol RRS.
£7 hebei grand county, 670.00
P/E (est 2017
Direct avk. est 2017