#NEWMONT - Breakout$NEM has broken upwards from the 200dma after a successful long trade
Next swing high at $54.89 will likely be tested, lots of room to move above that.
NEM trade ideas
Newmont: Flirty 😉Newmont is flirting quite heavily with our alternative scenario, moving closer and closer to the support at $37.45. By now, it is touching the upper edge of the yellow zone between $42.50 and $23.41, on the verge of slumping deeper. There is a 40% chance that the course might do so, dropping below the support at $37.45 to develop wave alt.(2) in yellow earlier already. However, primarily, we still expect Newmont to turn upwards first to head for the turquoise zone between $67.68 and $80.84. There, the share should place the top of wave B in turquoise before starting a fresh downwards movement, which should then lead into the yellow zone and thus below $37.45. Beneath this mark, Newmont should complete the overarching descent in the form of wave (2) in yellow.
Risky hypnotize of early change of local trendIdea:
Down breakdown cancellation after the financial report
Buy: 48.12
SL: 45.12
Technical:
Change of local trend. Long fall before. Possible global trend change
Financial:
- Pro: Low debt to eq.
- Pro: Gross margin > 15
- Con: RoE is falling
Time to Fade the Now Consensus View on Gold and Gold Miners?This has reached a bit too consensus for me.
Fading/closing longs on Gold/gold miners.
Newmont Mining - The Long Play Going ForwardGold Miners have suffered, and this one has now capitulated in my opinion.
Yielding 5.6%+ and near a hefty demand level between 38-35, I'd expect a new uptrend in this one sooner rather than later.
(See pink circles in the longterm squeeze indicator chart, extremely eversold - second most since 1985)
Fib level support heldNEM support level @ fibonacci level
61% held.
this is a bullish signal.
GOLD will rise in 2023, i mean the USD will
continue to depreciate. expect NEM
to bounce higher. sellers have been exhausted.
$NEM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $NEM after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 83.33%.
NEM is going Up It the right time to ride this long wave of #NEM after the major drop and finishing the accumulation phase. I always use S1&S2 to help me identify the key levels and get some free signals, but this time I used naked chart with market structure only.
NEM bullish into January - Target $70NEM follows the sine wave very well. Has tested support and currently Bollinger bands squeeze. When BB squeeze, you have a very hefty upthrust. About a 50% run into late January.
Short Newmont Mining $NEM1. Trend is down over year and half
2. TTM Squeeze that usually bounces off opposite wall before reversing
3. Hitting resistance trendline repeatedly
4. Under 200ema
I could see this ultimately hitting 200ema, which I would dump everything into going short, but this spot is good for a short as well. Always keep more dry powder and don't blow your load in one go!
NEM is nearing a rocket zone on dailyPrior area of congestion at 46.65 when cleared should give a good low volume rocket thrust up to the 50.84 area. If you didn't get this at the bottom you missed a good bargain.
NEWMONT and TD ReinforcementNEWMONT has TD Reinforcement in daily chart and also TD Buy Setup in weekly chart with bullish divergence signal. The best strategy is not only buy or long NEM but you are also able to short put option for playing with time decay. I recommend to apply the strategy before earing period to take an advantage of imply volatility. However, don't forget to limit your risks before trading. Good Luck!
Newmont: 2x potential outlier basing @2009 channel+ Cup NeckNewmont gold miner, after more than doubled from a 2016 Cup & Handle formation, came back down to retest the neckline at around 40. As you can see in the chart, it reached the top of the 2009 channel near 85 on
April 2022 & went vertically down to retest the channel base near 40, with the usual chopping near the mid channel dotted blue line.
Very bullish cases: target levels are 50 (previous strong support), 60 (projected ma200 zone) & 70 (projected channel median line)
It has been basing for 7 weeks holding 40
Basing around the 2009 lower channel
Retested successfully 2016 Cup & Handle neck@40
Slight Rsi divergence
Macd holding above zero
Made higher high & higher low
About to cross daily dma50 to regain channel
WARNING: with GDX & GDXJ gold miners looking very bearish at this point, I MAY BE WRONG! So watch carefully the 40 zone as it is the line in the sand.
Not trading advice
'Financed Spread' Trade Idea for a 1/20/23 Expiration"Financed Spread" idea.
1/20/23 Expiration.
SELL $50 Call.
BUY $45 Call.
--{Current Share Price: $42}--
SELL $40 Put.
The credit will be around $166 and the collateral will be $4,000.
The max gain of $666 hits at a share price of $50 (19% price gain from current (10/1) price).
NEWMONT - Long IDEA- 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
Newmont: Humpty Dumpty 🥚🧱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, in which it should drop to finish wave (2) in yellow. Afterwards, Newmont should turn upwards, heading for the resistance at $86.37.
Buy $NEM - NRPicks 05 AgoNewmont 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.
Newmont breaking out of the box and going lowerThe 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 Sucka.
I've already detailed all the reasons why in my gold/dxy threads why miners will experience more pain ahead. I'm selling OTM calls and buying ITM puts with the credit here. If it goes up, it's a squash - if it goes down, excellent revenue to average in at a lower price until miners turn around.
NEM-BUY medium-termThere 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 downward in the near term, but not very likely or certain.
This stock seems good opportunity buying into Bollingr Band with a likely objective near $ 60.00 or higher.
NEM BUY+++++ way oversoldStill 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 trillion national debt and trillions in funny money printing which will ultimately be the dollars demise. I have October 21st $52.50 calls. GL
$NEM with a Bullish outlook following its earnings #Stocks 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%.
