Sibanye Stillwater not so "still" in the long term forecasts.

JSE:SSW slipped off the ladder in March 2022 from its all time highs of R80.22, almost exactly 2 years after it had found support at R15.40.

Considering the latest price action, we can see price caught in a decending channel and is also now trading around the 50 DAY EMA with a falling wedge. Considering the market gap between R25.80 and R26.90 The instrument may continue painting a falling wedge until this gap closes and support is found. Price is then forecast to creep bullishly to the R34.60 ~ R36.20 levels where it may run into some resistance. Short term long positions may be considered at the R25.80~R26.90 levels and closed if the instrument starts trading below R24.90. as probabilities of it inching lower will be on the table.

Scenario1 (Probable after finding support at R25.80) : SSW heads for and breaks the resistance, then trades and holds well above R37.30. This may see it trading bullishly to R39.62 for another higher gap close on the daily time frame. Next levels to look at would be R45.78, R52.40 and R76.60.

Scenario 2 (Possible at the resistance): The R34.60 ~ R36.20 levels hold as resistance and price reacts strongly bearish, sending the instrument plummeting to R15.40 over the medium term to seek and retest support. Best to wait and see if price reacts STRONGLY bearish here or it consolidates in the form of a bullish continuation pattern.