Consolidation is broken upwards with the minimum target level around 90.
Newmont Mining just came off a record quarter in Q3 with free cash flow of ~$1.3 billion, and increased its dividend by 60% to $1.60 per share annually. Despite these bullish developments, the stock has slumped with the rest of the sector, down more than 20% from its August highs. This correction has left the stock trading below 13x FY2021 annual EPS estimates,...
Newmont has a shitload of silver from the goldcorp takeover... is why i own it. It has recently taken out the prior high and retest (not the all time high) that one is coming next... once Newmont takes out its all time high (81.92) , it's to the moon alice... to the moon !
NEM has increased guidance and has a bull flag forming. FWD P/E lower than current and 10 points lower than industry average FWD P/E. Looking for entry below 74 and TP of 79 to hold with stop loss at 76 for 25% of position.
$NEM has closed at its highest price since 1987. I have selected 2 fibonacci extensions and the measured move of the bull flag. The red extensions from the first impulse move post-IPO have a history have a long history of marking months long consolidations and decade long tops. For this reason I believe the next fibonacci level $114 is now the most reasonable...
This is a quarterly breakout - find me a chart that looks like this.... My view on silver long term: Junior miners about to breakout: Silver long is my largest holding
Chart pattern: Bull flag Entry: 65.78$ (this would end the downtrend which is active since the beginning of August 2020) Stop: 54.18$ Target: 93.354 Stopmanagement: ATR Stops weekly chart default settings Risk:Reward-Ratio: > 2.3:1 Description: Since August 2020 the chart is forming a bull flag with a nice corrective pattern (which retraced...
NEM is close to breaking through a bullish flag. We need a couple more days to confirm. Large caps will lead the smaller caps so all eyes on NEM and ABX. GDXJ is in a bullish flag as well - but has more work to do, hints will come from NEM/ABX. All adding to the positive technicals for XAU, XAG and the PM stocks. Cautiously bullish at this stage.
interesting, given the price action in Gold.
Swing. Break out before earnings? Kicked down after earnings and bouncing from lower TL of flag?
2W chart explains it all. no need to comment.