NEM trade ideas
#Newmont - This one's for the #historybooks!!! 🤯 alright alright before you start cursing me I am not kidding!!! 🤯
you see that Red trendline that is coming from 1987?! look how price got rejected in 2011 & again this time in 2020!!!!! 🤯
so how will this be possible?! well #Newmont is a mining company right? so now as we are looking at possible multiyear recession possible depression there won't be work for them & eventually price will come back to support
then maybe in 2050 finally we will have started mining on other planets, meteorites & stocks will skyrocket cause they are the leading company who can mine precious space minerals (lol I am not good with fundamentals)
here are the TA
first we have a descending triangle forming that might have a flat support
or we could be forming a simple triangle
either case they both have Red trendline as Massive resistance once we break it this stock will skyrocket!!
Buy this for future generations can't promise you will be alive to see this going to 500$ unless we have found immortality! 🤣
NEM - on verge of next real leg up!NEM traded $69.13 down to $52 holding head and shoulders breakout point. Over the last four days buying volume has picked up, MACD looks ready to crossover, and RSI is turning up. This is going to lead the GDX breakout. Wait for it.
NEM Approaching Next SupportIn the past 10 days or so, we see a huge selloff of this stock after it hit the 52 week high, with large gap downs breaking support after support. The next support would be at $51.15 and we shall see if it holds.
NEM Killing It!Hello,
I have a brother that has been into stocks for over 30 years and he gave me a tip 3-4 weeks ago, I should have listened. Looking at this chart on the weekly, I do see a slight correction. I would be careful shorting this because overall the trend is very bullish and you can also see that the whipsaws on this chart have been sharpened. I would wait to look for a nice long entry, this is going up to a hundred bucks plus.
News from Newmont Corporation
(NYSE: NEM , TSX: NGT ) (Newmont or the Company) announced today the Company continues to ramp up operations at Peñasquito, Cerro Negro, Éléonore, and Yanacocha. Among Newmont’s 12 operating mines and two joint ventures, 13 sites will be fully operational in the coming weeks.
"We are pleased to be ramping up operations at our four sites previously placed in care and maintenance and we remain committed to protecting our workforce and neighboring communities," said Tom Palmer, President and Chief Executive Officer. "We continue to respond to this pandemic from a position of strength and Newmont’s diverse portfolio in top-tier jurisdictions provides a long-term, stable production profile with the potential to generate significant free cash flow over time."
Good Luck
Cheers!
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NEM (3W) / Bullish Elliott Wave CountDifficult not to see an inverse Head & Shoulders pattern in this gold miner, isn't it?
Newmont Corp $NEM$NEM is loosing its strength. There is a negative divergence and the volume is drying up. Expect a possible pull back.
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NEM Pullback/OversoldNEM on the hourly has topped out at $65. It looks like its going to pull back to the $58 level. On the weekly and monthly chart it is very over extended. It also couldn't break the highs of $65.
NEM - Post Earnings DecisionEarnings were strong on the top line (+43% YOY) and EPS (+14% YOY) but did not have much of a reaction. News may have been priced in already..
Price action to see the resolution of an ascending triangle which should be to the upside.
However, gold has been going sideways the last 3 days and a break lower will be drag NEM down. Let me know if you would like to see my updated gold analysis.
Newmont Corporation [ NYSE: NEM ]Newmont Corporation
Pending Order Placement
Entry Placement 63.68
Take Profit Placement 71.88
Stop Loss Placement 58.21
NEM - Testing Support- NEM has been trading in an ascending channel since bottoming in mid-March.
- Up move has slowed and is now testing the lower band again.
- If this holds, it will continue in the uptrend. Note that 50MA has been support as it tests the lower band as well.
- If it breaks to the downside, looking for it to break through support at $59 and test the $56.50 level.
Hoping this continues in the uptrend though :)
There is big potential that NGT NEWMONT GOLD CORPORATION down.*** A strong break out of the average price ,then it is the reversal of the direction so it's a big probability of down to 86.50 see 86.00.
NEM Gold Surge: $67 Price Target (Short) -> $80 Long TargetFirst off, please don't take what I say seriously or at face value. That being said, let us see what my opinion is on NEM. Right now, given the time period we are in, the demand curve is low for many natural or mined resources. Gold doesn't seem to be one of them, as we are having an emergence of what seems like a positive bull run for NEM after its negative correlations. Now, this is still high risk given its previous price decreases and vastly negative correlations, but strong buy demand support seems to be there. Am important key event would also be its May earnings call. I am calling as a short a $67 price target, and think it has the potential of hitting an $80 price as a long hold.
