BIG Potential for NEWMONT CORPORATIONHello traders, NEWMONT CORPORATION gives a bullish signal, but from the gap it is possible that it will fall once reaching its previous higher.
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NMM trade ideas
NEM potential buying opportunityPositives:
- After the impulse, did a perfect retrace to the 0.5 fib and found support.
- Gave a buy signal earlier in March when the 200MA held.
- Seems to be finding support above the 50MA at the moment.
What to wait for/when buy:
- Breaking above the daily cloud.
- Retesting the blue upward trendline and reacting positively.
When invalidated (for now):
- If doesnt manage to break/stay above the daily cloud.
- And/or if the blue trendline gets broken.
Eyeing $NEM breakoutNewmont corporation is the largest gold miner in the world, operating since 1921.
Per one of their presentations, 5 year cumulative cash flow at $1,800/oz is $17B or $3.4B/year, for a company currently valued at $49B.
Newmont is currently 40% higher than the beginning of the year and has staged an impressive rise since the lows of March 13.
If $NEM can clear $63 and fill the gap of May end, road to $70s is clean. Keep an eye on this one.
Newmont mining to follow gold into new highsIt will take years to go back to pre-covid employment levels. Central banks and government will keep pumping money in the system, both democrats or republicans, whoever wins next election.
Gold will benefit, gold shares even more.
Gold printed fresh highs, I expect gold shares will be catching up.
Favour large cap low-cost open pit mines: NEW or GOLD (barrick), or streaming companies FNV (franco Nevada
Newmont All Time Highs???Looking at the historic chart data and recent price
spike & pullback it looks like all the bagholders from
2011 hights have sold out...well the ones that wanted to sell out anyway. from the recent pullbacks, it looks like we will see all-time highs from this point especially with gold on route to all-time highs
What do you think???
#Newmont - This one's for the #historybooks!!! 🤯 alright alright before you start cursing me I am not kidding!!! 🤯
you see that Red trendline that is coming from 1987?! look how price got rejected in 2011 & again this time in 2020!!!!! 🤯
so how will this be possible?! well #Newmont is a mining company right? so now as we are looking at possible multiyear recession possible depression there won't be work for them & eventually price will come back to support
then maybe in 2050 finally we will have started mining on other planets, meteorites & stocks will skyrocket cause they are the leading company who can mine precious space minerals (lol I am not good with fundamentals)
here are the TA
first we have a descending triangle forming that might have a flat support
or we could be forming a simple triangle
either case they both have Red trendline as Massive resistance once we break it this stock will skyrocket!!
Buy this for future generations can't promise you will be alive to see this going to 500$ 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
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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.
