The recent coup in Mali - where Randgold operates mines - sent the company's share price hurtling lower, says Nathan Eisenberg at www.jnfcfds.com
Although its price has recovered somewhat from that dip, traders are now looking to sell into rallies, rather than buying the dips. Following the latest dip below 5400p, a further decline to 5000p and below looks to be in order. Go short, with a stop-loss at 5600p.
City Trades are written by selected external contributors and are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.