Gold Fields Limited

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Nearest Resistance: $16.75

Nearest Support: $14.70

Catalyst: Gold price stumble

South African gold miner Gold Fields Limited ( GFI) is having a tough go of it this month. Since early February, shares of the firm have slid more than 10% as the price of gold pulled back from the $1800 level. Today, shares are getting attention again thanks to a big single-day pullback in gold prices.

From a technical standpoint, shares of Gold Fields are very close to testing support at the $14.70 level, a price that acted like floor for shares as recently as October. If GFI can catch a bid at that price, shares could make a similar rebound - that's a big "if" right now, but barring a sustained breakdown below $14.70, that's the most likely move for this stock.

A close below $14.70 followed by an open under that price in tomorrow's session would be a sell signal for shares.

Gold Fields is one of the top holdings at Fortress Investment Group and also shows up in John Paulson's portfolio.

If you liked this article you might like

It's Bizarre That Billionaire Warren Buffett Is Kinda Invested in Dying Sears

Hibbett Sports Is Worth a Shot After Sporting Goods Misses

Amazon Must Fear Walmart

Amazon-Walmart Horse Race; Washington Chaos -- Jim Cramer's Top Thoughts