Gold and gold miners like Newmont rallied over the summer when interest rates crashed. But they’ve staggered since early September and now NEM is showing some potentially bearish signals.
First, NEM wasn’t able to get back above its old highs from early 2018. Second, it’s been consolidating below both its 50- and 100-day simple moving averages. Third, it had a...
Gold is down some $16 today and NEM is hardly down holding the break of the downtrend channel. The most recent impulse leg took out two important prior peaks and I see this to just under $42 on next move. Volume picking up and 20 day coming up through 50 day and 100 day. Looks like 50 day wants to cross back above the 100 day as well. Still has room in MACD...
Newmont the most volatile that it's been in a long time. Earnings and revenues fell short of expectations but still better than last year. Holding at key FIB levels and bounced off the 200 day. I like this to move higher over the next couple weeks as it readies itself for the next move up.
If gold is just finishing its triangle continuation pattern and ready to move higher, then NEM is a great buy!
Any options in the $39-$40 level expiring next week should do excellent, if that is the case.
NYSE:NEM - The big trend reversed for NEM when the stock broke the February-April highs. This resistance zone then turned into support and held in September-October. This is a classic tenet of technical analysis: broken resistance turns support. Yes, there was an overshoot below the support zone in early August, but the stock immediately recovered. A wedge has...
I'm still bullish on GOLD for the next few trading days and thinking its going to attack the highs next week (and fail to breach).
In that regard, I anticipate that NEM is in an expanded flat and that wave 5 of the ending diagonal should commence Monday morning after a wave 4 overlap at $38.79.
If my analysis is correct, NEM will bottom after this quick overlap...
I'm still projecting one more push higher for GOLD before the steep slide down to $1,400.
With that in mind, I purchased NEWMONT GOLDCORP (NEM) $38.50 call options expiring this Friday (bought at $0.20)
I anticipate that NEW is in an ending diagonal that will rise to $39.35 or so tomorrow, fall back to touch the wave 1 high at $38.79, and then push to the $40+...
Interesting chart here. Hasn't been as volatile as the rest of the miners (see GDX post). Looks like it wants to stay above the downtrend line and starting to coil. I like this for an upside breakout!
NEM - Newmont Goldcorp share prices extended its run to the upside after breaking out of a critical support price level at 40.00 and hit 40.75 from time of reporting up 3.30%. Share prices currently float around 40.90, a vital resistance price point which it needs to break through to continue to its next target at approximately 41.60.
It is wise for...
On a horrendous day in the markets NEM managed to stay in the green yesterday, such strength can't be ignored as there was a rush for anythings linked to gold. They only issue is that the market is so unpredictable that if you're not in it now, a change in market sentiment could really hurt the miners.
It going long stop losses need to be tight or possible wait...
This video is about XAUUSD physical gold price and some gold stocks! Physical gold looks like it will go up another 12 percent but the stocks look like A 30-40% move is on its way!
Newmont Goldcorp Corp, formerly Newmont Mining Corp, is a mining company, which is focused on the production of and exploration for gold, copper, silver, zinc and lead. It is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company's segments include North America, South America, Asia Pacific and Africa. Its North America segment consists primarily of Carlin, Phoenix, Twin Creeks and Long Canyon in the state of Nevada, and Cripple Creek &Victor (CC&V) in the state of Colorado, in the United States. Its South America segment consists primarily of Yanacocha in Peru and Merian in Suriname. Its Asia Pacific segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia. The Company's Africa segment consists primarily of Ahafo and Akyem in Ghana. As of December 31, 2016, it had gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles (59,000 square kilometers).
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NEM
