NEM trade ideas
This market has no mercyPrice is landing on an important support area. This a gold and copper mining company, the stock pays 4.5% dividend yield. I see gold going up in medium term, next year I believe gold will be trading around 2200 and will pull up this stock. I own this stock for the dividends and I believe is going to hit the 45 next year. I'm collecting the dividends while I'm waiting and also selling covered call at every correction. Good cash income if you're a little patient. I don't have a SL because a I use this stock for passive income.
NEM Watch for Wolfe WaveNEM is on verge to break the Wolfe Wave line, if it does break, should follow until midpoint of Wolfe Angle at least.
DOUBLE OPPORTUNITY TOMORROW OPENING LCID + NEMOur scanners pointed us many opportunities to look out tomorrow, and good signals are as we share in the idea.
We see two possible breakout movement from two stocks and we should watch tomorrow opening for a possible good trade.
Long $NEMMany traders have their eyes focused on spot gold breaking out. With gold miners near their lows, they are compelling trades. Two of the largest holdings within the gold mining ETF AMEX:GDX is NYSE:NEM and $GOLD.
YTD performance:
AMEX:GDX +5.6%
NYSE:NEM -16.7%
TVC:GOLD +0.29%
During gold bull markets, NYSE:NEM outperforms AMEX:GDX and TVC:GOLD underperforms. For traders looking to get into the gold trade, NYSE:NEM is currently discounted to the ETF—this provides an interesting opportunity to get in if you missed the original breakout move.
Accumulating Gold minersDespite the bull run in Gold prices Year-to-date, we have not seen it being reflected in Gold Miner's stock prices. As Gold prices attempt to break above the $2,000 resistance, Gold miners' stock prices have been falling in the same period (YTD) and this provides us with a discounted entry into gold miners' stocks.
Newmont has a great risk reward setup. Newmont, like other great stocks have had a rough year.
It's very likely that this stock will see a substantial increase in price over the next couple years.
Where does my confidence lie ?People around have been asking me why I am bearish on gold and gold miners stock despite the war in Ukraine, Israel Hamas conflict in the middle east and even now, at the impending end of cycle rate hike by Federal Reserve.
I am, on the contrary, very bullish on gold and gold miners' stocks, but not until a steep price drop in the near future. The sooner it drops the better, so that I can start accumulating gold miners' stocks. 2 months into the war in Ukraine by the Russian forces, Newmont Corporation (NEM) peaked at 86 USD. It caught my attention when I noticed a potential 'd' wave of an expanding triangle forming. I was reluctant to buy into the news of buying gold as a hedge against wars and inflation.
I started to short gold miners at that point in time and slowly accumulating as it drops further.
I have been using NEM as a proxy when it comes to mapping out my strategy in investing in gold and gold miners. A confluence of other miners, HUI, GDX, gold barrick, and DXY, comes into play as well.
Taking a step back to view the chart of NEM since inception, I can't help but noticing a mega long double three elliott wave pattern (WXY) forming for more than 30 years since 1988
As depicted in my chart, an expanded flat pattern (W) from 1988 to 2001/2. A double zigzag pattern (X) from 2001/2 to 2006. Since then, it has completed a,b,c,d waves of an expanded triangle. It is now on its way to complete wave 'e' of the triangle.
The next question to ask is is the 'b' wave of the abc pattern within wave 'e' completed ? Based on the confluence on gold and other gold miners price movements, most probably yes, . One will need a hourly chart to show the nuances of the 'b' wave which I am not discussing in this update.
My price target for the wave e should be around 10 to 12 USD. Whether we will see a wave 'e' failure remains to be seen. It will catch many investors and traders alike off-guard when NEM reaches this price range.
To quote from Warren buffet "be greedy only when others are fearful". That's when I will start to accumulate gold and gold miners' stocks.
PS: this chart is plotted in a semi-log scale.
NEWMONT Stock Chart Fibonacci Analysis 100923 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 36.4/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : C
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
NEM, This High-Potential GOLD-Mine GEM is on My Watchlist!Hello There!
Welcome to my new analysis about NEM, the next gold-mine gem I am adding to my current gold-mine gem watchlist. If you like to know the other gold-mine gems I already added to my watchlist please look into the recent ideas I uploaded to my TradingView profile.
In today´s time, there are massive transformational events going on within the whole gold market as there are several factors that lead to these transformational events.
Firstly, the new gold-backed-currency system implementation.
Secondly, the financial market that favors investors' safe heavens assets approved over decades in the past.
Thirdly, the necessity to establish a highly functional technology-supportive market that has been already established in the past.
The most important part is the accelerated implementation of a gold-backed currency system, no matter the size of the economy, it will have several effects.
Firstly, the newly added demand caused by the implementation of a gold-backed currency system is going to increase the activity within gold mines.
Secondly, the newly added demand caused by the implementation of a gold-backed currency system is going to determine a previously untapped supply.
Thirdly, as a result of the massive demand increase this is going to increase the market-cap of gold-mine gems that I have picked in my watchlist by a multiplying factor.
In this case in my analysis, I have detected the most important and worthwhile gems within the whole gold market and gold sector stocks market that can unfold the mentioned potential together with the implementation of a gold-backed currency system and therefore NEM is the next gem on my watchlist.
When looking at my chart, NEM is building this gigantic Ascending-Bull-Flag-Formation with the bullish price-action heavily building up within this gigantic Ascending-Bull-Flag-Formation. Now NEM is already trading above the 35-EMA as well as the 65-EMA with the price action supported by the Major Uptrend-Support-Bounce-Cluster-Channel. Furthermore, this whole uptrend price action setup is supported by this massive bullish Ascending-Trend-Line in which the price action already bounced several times increasing the potential for the next consecutive bounce origins.
Within the next times, NEM is going to move along with the major disruption transformational developments currently ongoing within the gold market and this means that once the further acceleration steps within the implementation of the gold-backed currency system are moving forward this is going to be the origin of the price action of NEM to emerge with the final breakout above the upper boundary of this gigantic Ascending-Bull-Flag-Formation with the setup to emerge above the upper boundary. From there on NEM is going to accelerate the bullish expansions into the upper dimensions and activate the further steps as they are marked in my chart.
Taking all of the factors into consideration now, the next times will be highly determined here. Especially, it will be important that the necessary technology implementation steps are going to be set up appropriately, in the past it has been always evidenced that without the necessary implementation steps, such developments could not reach their full acceleration potential. Therefore, inflation needs to decrease more and an appropriate economic field needs to be built to decrease the inflation because it has to be explicitly said that without inflation and the massive disruptions ongoing, the gold price would have reached a new all-time high already with the rally to continue.
In this manner, thank you everybody for watching my analysis of NEM. Support from your side is greatly appreciated.
VP
NEM longI consider NEM a good investment for the mid-term. in my personal opinion, October and November could be a great opportunity for Newmont. today they made a new 52-week low. a good point to entry today
Newmont break out potential Hey guys I have not posted anything lately been busy with life. but check out this chart by Newmont gold Corp or NEM, this long falling wedge is getting close to a breakout in my opinion. a break over 41 and we have lift off to 45+ with ER coming up on October 26th this looks good. I have a weekly, Daily and 4hr buy signal. MACD curling up and RSI in the 28 area. I myself loaded (100) 50 call, options on this for a November 17th expiration. keep a eye on it and by safe anything can happen and the market is hard to read but I like the R/R here so see ya in the winner circle
NEM LONGA nearly bullish set up is forming for this name. I want to see the monthly orderblock swept before entering long term position. However near term swing bias would be long. Sitting at strong volume shelf/ support and primed for a bounce.
PS- Not financial advice. Do you own due diligence.
NEM Growth Opportunity NEM is showing a nice growth opportunity in its share price for the next 12 to 24 months. if the gold price increases, they Newmont is in a strong position to benefit from it.
$NEM Double Bottom Analyzing NYSE:NEM Newmont Corporation's double bottom pattern, it's clear that this mining stock presents a compelling investment opportunity. The pattern signifies potential upward momentum, with the blue line serving as a critical threshold. Going forward, a bullish outlook can be maintained if Newmont remains above this key level, suggesting favorable prospects for investors. However, it's essential to stay vigilant and have specific price targets in mind to make informed trading decisions. Monitoring the stock's performance relative to the blue line will be crucial for identifying potential buy or sell signals, ensuring you stay on the right side of this promising investment opportunity. Newmont Corporation is one of the world's leading mining companies, primarily focused on the exploration, development, and production of gold, copper, silver, zinc, and other metals and minerals. As of my last knowledge update in September 2021, it was headquartered in Greenwood Village, Colorado, USA. Here are some key points about Newmont Corporation:
1. **Global Presence**: Newmont operates mining projects and exploration activities in various regions across the globe, including North and South America, Australia, Africa, and Asia.
2. **Gold Production**: Newmont is particularly renowned for its significant gold production. It has a diverse portfolio of gold mines and projects, making it one of the largest gold producers in the world.
3. **Copper and Other Minerals**: In addition to gold, Newmont is involved in the extraction of other metals, such as copper, silver, and zinc, through its mining operations.
4. **Sustainable Mining**: The company has a strong commitment to environmental and social responsibility, emphasizing sustainable mining practices and community engagement.
5. **Long History**: Newmont has a rich history dating back to 1921, and it has been a key player in the mining industry for decades.
6. **Stock Listing**: Newmont Corporation is publicly traded on the New York Stock Exchange (NYSE) under the ticker symbol "NEM."
7. **Industry Leadership**: It is considered one of the largest and most influential companies in the global mining industry, known for its operational excellence and financial stability.
Please note that the information provided here is based on my knowledge as of September 2021, and the company's status or activities may have evolved since then. For the most current and detailed information about Newmont Corporation, I recommend visiting the company's official website or referring to recent financial reports and news articles.
NEM might reverse from this levelNEM in a zone of multiple confluence. It might reverse from this level.
Newmont Corp looking goodNEM chart is brewing up a possible bullish set up. If we cross reference this chart with a current gold chart we could see a harmonious bullish reversal.
Set your alerts on gold and NEM and we may see a great set up!
Gold Mining TradeNewmont Corporation is an American gold mining company based in Greenwood Village, Colorado. It is the world's largest gold mining corporation. Incorporated in 1921, it owns gold mines in Nevada, Colorado, Ontario, Quebec, Mexico, the Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname.
NEM Newmont Corporation Options Ahead of EarningsAnalyzing the options chain of NEM Newmont Corporation prior to the earnings report this week,
I would consider purchasing the 42.5usd strike price Calls with
an expiration date of 9/15/2023,
for a premium of approximately $1.11.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
If you like gold this is for youLook at the chart, we had a double top that didn't play out. That means that the price is going to the other direction so up. This is a gold and copper mining company. Both metals are ripping. I would buy a good position here and if it drops buy more. Is very unlikely to break down the strong support. BTW while you are holding, it pays you more the 4% yield dividend. Not bad.
Short-term PT: $47According to TipRanks:
"Based on 10 Wall Street analysts offering 12 month price targets for Newmont Mining in the last 3 months. The average price target is $58.67 with a high forecast of $70.84 and a low forecast of $42.53. The average price target represents a 29.77% change from the last price of $45.21"
NEWMONT Stock Chart Fibonacci Analysis 052023Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 44/61.80%
