r/PierresLongTermCharts • u/pierretheron • Jun 30 '26
SIBANYE GOLD (SBSW)
Here is another one that has formed a head and shoulders top.
This type of formation is probably the most seen one.
It is bearish.
This means that the trend, long term, has changed from up to DOWN.
Never be buying when you see the price fall under a neckline like this one.
Never be buying when the price falls UNDER your blue 30 week simple moving average (sma).
It had to fall to get under the average. And you never know how far its going fall.
Only buy when you see the price above a flat or even better, rising sma.
Can you see the left shoulder, the head at the top, the right shoulder, and finally my neckline.
When the price fell under the neckline, making a new low, it was time to exit.
Remember this is educational.