The Newmont stock has reached an important mark within the chart, and we are waiting for the stock to turn around. If we stay above $54.18, we continue to expect the price to crush through the resistance at $75.31 and proceed to tackle prices above $90. However, a 45% chance of falling below $54.18 remains, which would lead to further declines.
Go Bulls, Go!
Couple of signals to outline bearish trend on gold
1. Lines work until they don't
- blue trendline has been providing confirmation for long term uptrend since 2019
- however line is getting tested more and more, each test increases probability that line breaks
2. Lower high formed mid-May
- gold briefly broke previous ATH in august 2020 just to pullback
A Reaction low formed after testing the Upper Bollinger Band and the (Resistance area of 19 September 2011) ,We then seen a Test of Support (Middle of Bollinger Band) and (Previous Local Resistance), found support there and
moved up to test the Upper Bollinger Band, exceeding the previous high but Rejecting the test of the upper Bollinger Band (Also being The High...
NEWMONT CORPORATION at a CRITICAL LEVEL for its future price.
Closing a weekly candle above that trendline, would break a multiyear pattern, and activate all the other possible targets in red.
Otherwise, in case of rejection, the supports are in green.
Looking at the historic chart data and recent price
spike & pullback it looks like all the bagholders from
2011 hights have sold out...well the ones that wanted to sell out anyway. from the recent pullbacks, it looks like we will see all-time highs from this point especially with gold on route to all-time highs
What do you think???
#NewmontCorporation have rallied 35 year to date.The company’s focus on key growth projects, disciplined capital allocation strategy and higher gold prices are some of the factors contributing to its share price appreciation. It is hitting the 15 years resistance again. This time gold will help them to break out
Just beginning to understand this new world, especially with all of the constant change..
Yamana Gold is the first gold stock i ever traded for gold it gave me some return so it was easy for me to remember and I sort of grew fond of the stock, that's the only reason i'm choosing this stock to play with.
My main goal is to be able to learn to play any...
We do not play gold stocks. So here's a tip for everyone.
Today, Barrick popped up on one of the scans we run.
On the daily chart, the 50 Day MA is crossing up and over the 100 Day MA.
PMO, MACD, RSI and Stochastic are all BULLISH - (In an uptrend)
For anyone interested, here you go!
Best of luck with your trades!
Newmont Mining, “Newmont”, is one of the world’s largest gold mining company by Market Capitalization with operations in the United States, Australia, Peru, Ghana and Suriname. On average, over the past 7 years, the company has contributed to 3.58% of the world’s supply of gold (based on World Gold Council figures). Compared to its strongest competition, Barrick...
Following up on my recent, gold and gold mining sector analysis, i am seeing in newmont mining one of my favorit gold mining stocks.
From a technical perspective the bias is clearly bullish. Also fundamentally this stock is a top sector pick, they are providing strong earnings and are in good shape.
I am looking to buy, but current levels seem expensive, another...