RE: CHARTS -T LINE TIPS24 May 2017 21:16
DYOR
Dear Lefkosia,
Our traders have prepared a BUY recommendation for you on Randgold Resources. They feel very confident about this stock as Randgold is a proxy trade for the price of gold. Something which is pushing up again given the markets are at an all time high.
I look forward to speaking with you.
Randgold Resources the FTSE 100 African based gold miner posted stellar Q1 results earlier this month which has given them arguably the best start to a year in 5 years. (as below)
07:17 GMT+1 5/04/17 [StreetAccount] RRS.LN Follow-up: Randgold Resources reports robust all-round performance in Q1 (6602.02p)
• Reports Q1:
o Group Sales $313.9 vs consensus $316.3MM
 Gold Sales $409.6M ( non GAAP) vs year-ago $$345.8M
 IFRS $316.7M vs year-ago $267.6M
 Consensus $301.0M
o EPS $0.74vs consensus $0.68
We feel that the above, combined with an opportunity in Gold itself, make RRS a good buy at these levels.
Gold has retraced from the $1295 per ounce and found support around the 1225 level now confirmed a reversal and is heading higher, we feel that tensions within the US presidency, North Korea and elections within the UK will push investors towards the “safe havenâ€.
Technical Analysis
Gold Chart
• MACD cross over suggesting a change to upside momentum.
• RSI break through 50 level which should provide more upside momentum
• 4 clear consecutive higher lows.
Randgold Resources Chart
• RSI above 50 level and clear consolidation before more upside
• Flag continuation formation
• Shorter term moving averages still above longer term
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Kind regards
Milan Juhasz
Relationship Manager
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www.sgcapitalmanagement.com
GLITA
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