Medium term view - RANDGOLD RESOURCES LTD : Weak reaction on the support
The major support has been broken, the trend is now neutral.Arguments :
- The support has been reached, price reaction is very shy. It does not justify a positive opinion.
- Prices are breaking below the flat moving average, it is a not meaningful signal.
Randgold Resources is engaged in gold mining, exploration and related activities. Co.'s activities are focused on West and Central Africa. In Mali, Co. has an 80% controlling interest in the Loulo mine through Societe des Mines de Loulo SA. The Loulo mine is mining from two underground mines. Co. also has an 80% controlling interest in the Gounkoto mine through Societe des Mines de Gounkoto SA. Co. owns 50% of Morila Limited, which in turn owns 80% of Societe des Mines de Morila SA, the owner of the Morila mine in Mali. In addition, Co. owns an effective 89.7% controlling interest in the Tongon mine located in the neighboring country of Cote d'Ivoire.
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