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NEM trade ideas

Gold Giant Teeters as S&P 500 Keeps RunningGold and gold miners like Newmont rallied over the summer when interest rates crashed. But they’ve staggered since early September and now NEM is showing some potentially bearish signals. First, NEM wasn’t able to get back above its old highs from early 2018. Second, it’s been consolidating below both its 50- and 100-day simple moving averages. Third, it had a spinning stop candlestick back on Wednesday at those same moving averages. This may keep traders looking for a drop as long as NEM remains below the weekly high of $38.75. The other potential problem for gold miners is the continued rally in the S&P 500 , which is staying above 3,100 today. Any further good news about Chinese trade or the economy could drive more risk appetite, and potentially hurt demand for safe-havens like NEM.
NYSE:NEMShort
by TradeStation
Newmont held a big breakout zone and looks poised for a breakoutNYSE:NEM - The big trend reversed for NEM when the stock broke the February-April highs. This resistance zone then turned into support and held in September-October. This is a classic tenet of technical analysis: broken resistance turns support. Yes, there was an overshoot below the support zone in early August, but the stock immediately recovered. A wedge has since unfolded the last two months and this is a bullish continuation pattern. I expect a wedge breakout because the bigger trend is up, this is a bullish pattern and RSI already broke out. Momentum indicators are leading indicators and RSI is leading. A close below 38 would warrant a re-evaluation.
NYSE:NEMLong
by trendinvestorpro
NEM poised for one more push to near highs?I'm still bullish on GOLD for the next few trading days and thinking its going to attack the highs next week (and fail to breach). In that regard, I anticipate that NEM is in an expanded flat and that wave 5 of the ending diagonal should commence Monday morning after a wave 4 overlap at $38.79. If my analysis is correct, NEM will bottom after this quick overlap and make its way higher, peaking between the 2 recent highs of $41.62 and the yearly high of $41.08, which occurred on August 28. Stay tuned. Comments appreciated. Benji Miller
NYSE:NEMLong
by BenjiMiller
GOLD/NEW: projecting 1 more push higher before the big sell-offI'm still projecting one more push higher for GOLD before the steep slide down to $1,400. With that in mind, I purchased NEWMONT GOLDCORP (NEM) $38.50 call options expiring this Friday (bought at $0.20) I anticipate that NEW is in an ending diagonal that will rise to $39.35 or so tomorrow, fall back to touch the wave 1 high at $38.79, and then push to the $40+ level in wave 5 by the end of this week. Let's see what happens...
NYSE:NEMLong
by BenjiMiller
6
NEM share prices extended its run to the upside up 3.30%NEM - Newmont Goldcorp share prices extended its run to the upside after breaking out of a critical support price level at 40.00 and hit 40.75 from time of reporting up 3.30%. Share prices currently float around 40.90, a vital resistance price point which it needs to break through to continue to its next target at approximately 41.60. It is wise for traders/Investors to park some money in Gold stocks to hedge their position in times of financial market crisis. The current support levels are estimated at 40.10, 39.60, 38.95, 38.00, and 37.20
NYSE:NEMLong
by Rotuma
Newmont Gold stays green on a horrific day.On a horrendous day in the markets NEM managed to stay in the green yesterday, such strength can't be ignored as there was a rush for anythings linked to gold. They only issue is that the market is so unpredictable that if you're not in it now, a change in market sentiment could really hurt the miners. It going long stop losses need to be tight or possible wait for the $40 mark to break, which has held as strong resistance for 2 years. AVERAGE ANALYSTS PRICE TARGET $43 AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT P/E RATIO SHORT INTEREST 3% COMPANY PROFILE Newmont Goldcorp Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States. The South America segment consists primarily of Yanacocha in Peru and Merian in Suriname. The Australia segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia. The Africa segment consists primarily of Ahafo and Akyem in Ghana. The company was founded by William Boyce Thompson on May 2, 1921 and is headquartered in Greenwood Village, CO.$
NYSE:NEM
by RedHotStocks