Now that we have looked at our view on weekly charts, lets look at the daily charts. (attached below the analysis on weekly charts, better t read that first to have the forthlooking view)
Weekly chart on the minor cycle suggests a minor pullback in the beginning of March 2020. As we are aware, price may bottom a few candles around this and we may expect last week...
Lets have a look on what's happening with NEM. We are in the mid range of the larger cycle on weekly charts and we may be seeing a minor bottom on the smaller cycle as evident in the chart. This large upward spike in the chart on the weekly candle may also be a sign of exhaustion or a partial entry to a testing zone/ congestion area
$46 to $49 would be expected...
Ive posted ideas on NEM before and im still hodling this monster stock. Just thought id put this up as earnings are out tomorrow and we are ready to break a very significant level. NEM is one of my favorite buy and hold positions for the silver and gold bull run. By this i mean silver is about to go to the moon and NEM has a monster pile of the stuff!
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the...
NEM is still consolidating its move. Earnings on deck next week. I think this has a couple bucks of downside at most. Doubt it will break the indicated support. Still needs to take out the 2016 high. Next move up should do it and there will not be much resistance above.
Want a different way to play gold? Buy a miner! This is one of the top rated out there and it looks like it's about to breakout. In order to take the trade I will have to see a close above 46.07 on a weekly basis.
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Newmont Goldcorp NEM is holding at a critical technical level right now. With this volume, it's hard to ignore. However, make sure to note the strategy the company is taking up right now. Deals and strategic investments. They just threw another $8 out there. This time it was to GTT.
"It’s also important to keep in mind other big deals that the company is...
Newmont is the only gold mining stock that's inside the S&P 500 index. So, it's a neat way to ride Gold miners while catching inflow (and outflows...) from the S&P.
I think that explains its relative outperformance to GDX this month, since the S&P really ripped on the backs of Not QE.
This is probably one to watch and buy every dip.
Entry level $43.69 = Target price $50.00 = Stop loss $41.70
Speculation regarding the rise of gold in 2020 is strong as we enter a election year and many geo political issues worldwide.
Gold is seen as the safe haven and gold miners are they obvious benefactors.