- Great risk reward entry on this US listed miner.
- Longterm support trendline
- Morgan Stanley has increased their exposure to NEM in the second quarter.
- SL and initial TP on the chart
Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall.
All the king’s horses and all the king’s men
Couldn’t put Humpty together again .
Well, Newmont shouldn’t have such a great fall that it can’t be put together again. Tough, just like the egg headed character from the British nursery rhyme, it is sitting on the big yellow wall between $42.50 and $23.41,...
Newmont Corporation is engaged in gold production and exploration. It also explores for copper, silver, zinc and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia and Ghana.
The Bollinger Bands contracting inside the Keltner channel predicts an explosive move ahead that will last at least 8 days. Combine that with Newmont's Price Action creating a box which looks like it's breaking through. I would not be surprised if there was a retrace to the top of the box later today if action is aggressive, or Monday morning - then it's Sayonara...
There is lot's of talk for further GOLD weakness. That is fairly strange considering inflation, and uncertainties with weaker economies that may enter recession in the near future, if one reads into the latest development. Especially the US housing market.
GOLD per se, seems slowly building up support form the medium-term, but bearing in mind we can range...
Still no change in view, NEM went lower than expected but appears to still have long term support in place and resistance around $53 range. We should see a retracement back to $63.68 .5 fibonacci range in coming weeks/ months. Copper and Gold miners are way oversold and been taken out to the woodshed with an artificially inflated dollar on the backs of $33...
The PEAD projected a Bullish outlook for $NEM after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 90%.
NEM and other gold miners have been decimated in recent months due to a collapse in commodities. NEM appears to have bottomed, based and consolidating. I would expect a move to $60-65 in coming weeks. NEM is highly oversold on daily and weekly charts and Copper/ GOLD seems to have bottomed in $1665 range recently. Purchased a total of 500 $52.50 NEM October...
NEM has been in oversold territory for many days and appears to be consolidating here as it's held support. I believe short term commodities have bottomed (copper, gold etc) and NEM is attractive here. I would expect a bounce to $60-65 in coming weeks.
Newmont ( NEM ) stock prices have been falling precipitously, halving in value from highs of $86 in mid-April, due to lower gold prices and rising input costs weighing on the company's earnings.
On July 25, following the release of the disappointing second-quarter results, with EPS down to 0.46 (-30% lower than expected), the world's largest gold miner fell to...
Hi All,
As seen, there is a very long trend since 2016 and we are now at base support level and bullish harmonics are formed already. RSI is at oversold level even in weekly chart and check the level of RSI for past weeks. It is almost at lowest level.
Be modest and take your profit at next resistance level.
This is not a financial advice.
Hello,
Newmont is the world's largest gold mining company. From a technical point of view I see the price of this stock hiting USD 54 from the current 68.
Good luck
Just like many of the other commodities, Newmont mining looks overextended and is starting to turn over.
Because of how quickly it ran, I think we're likely to see a violent snap back in price back to the February lows.
I can see price going to the $60 range before continuing up and/or retesting these highs as resistance.
First double bottom scenario price broke out very well
Right now we are approaching a break out as a result of a massive double bottom
Rocket emojis are appropriate
Newmont has been following our primary scenario and has as good as reached the ideal destination for wave ii in magenta near the lower third of the magenta zone between $69.49 and $56.42. Thus, it should soon turn around and move upwards. However, there remains a 40% chance that Newmont could drop through the magenta zone and below the support line at $52.60,...
NEM has retraced 25% from its recent highs but now is looking to breakout for another push higher. It has found nice support within the VPVR value area around that 63 level. Tight action within this falling wedge, bullish reversal pattern. Preferably I would like to see a breakout to test that 75 area before ER. My thoughts on ER is it wont be a catalysts for any...
