Kevin_Lomax
Long

NEWMONT MINING: LONG

NYSE:NEM   NEWMONT MINING CORP
97 0 0
10 months ago
NEM             is a stock I bought recently that has seen some nice gains. For fundamental reasons this stock has looked very attractive for a long time. I recent bought as technicals finally confirmed what my fundamental analysis was telling me.

You can see price broke out from channel, but found a bottom around 16.00. From there we broke short term down trend line, and broke back into the voided channel.

Price came through 100 period moving average , and is coming towards 20.00 area resistance. This level also intersects with 200 period moving average .

After a break of $20 looking for price to head to $27. Plan to be in this trade for a long haul, with a long term target well above current price.
10 months ago
Comment: Price is retracing from resistance just as expected. Locking in some gains, and waiting to how price reacts. A break of this level will be good to open another position.
10 months ago
Comment: Nice up-gap today. Price has significant momentum behind. Will be looking for price to react to resistance around $27-28 area.
9 months ago
Comment: Closed my first position on this trade due to last weeks price action on XAU/USD. My second position was added at 23.5 and will continue to hold if it stays above 20.60.
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