Shares of Sibanye Stillwater (SBSW) have climbed to the top of the SIA International ADR Report and now sit in position #1. Typically known as a cyclical palladium miner, Sibanye Stillwater is said to be undergoing a strategic pivot as it moves away from overreliance on volatile platinum group metal (PGM) markets toward a diversified portfolio aligned with long-term sustainability and ESG goals. Facing deepening supply deficits in platinum and palladium, along with falling prices and operational headwinds, the company may expand further into battery metals like lithium (via the Keliber project in Finland) and scale up activity in precious metals recycling through the acquisition of Reldan. Enthusiastic investors are hoping for a stabilization of earnings through circular economy exposure, which could also align Sibanye with global trends in clean energy and responsible sourcing. By embedding ESG principles into urban mining operations—through decarbonization, recycling, and reduced dependence on high-emission mining—the company may reposition as a critical supplier in the energy transition while managing risk from tightening supply chains and commodity volatility. Turning next to the first chart presented, which is a weekly candlestick chart, the base that formed during the palladium doldrums of 2023–2025 has been highlighted. During this period, prices were depressed—often below the cost of production—forcing companies like Sibanye Stillwater to reduce output and lay off workers. However, the latest move, with shares trading above $5, is notable, especially against the backdrop of rising relative strength in the SIA International ADR Report, as seen in the first relative strength table. Should buyers remain in control and money flows continue to favor the name, the next observable resistance is just above $7, with further resistance near $9 and again above $11.
Also of note is the high volume which might be an important confirmation for technicians monitoring a stock breaking beyond old resistance, which have been circled for review.
Turning next to the point and figure chart, some more specific levels of interest can be identified. For support, the 3-box level at $5.93 stands out, followed by $5.16 and $4.50—levels that date back to the basing formation of 2023–2025. On the upside, initial resistance appears at $6.95, with a notable resistance zone between $7.67 and $7.98. Other SIA technical attributes that could be contributing to this evolving setup include the continued strength of the Metals and Mines sector and the rising emphasis on domestic metal production amid a highly charged geopolitical environment. Finally when compared against other asset classes, as measured by the SIA SMAX score, a perfect reading of 10 out of 10 appears which is yet again another positive technical attribute.
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