Long term channelI think the risk to reward is good here for Newmont. Especially for anyone lacking any precious metal exposure
NEM trade ideas
NEM BUY+++++++ on verge of breaking out!NEM and other gold miners have been decimated in recent months due to a collapse in commodities. NEM appears to have bottomed, based and consolidating. I would expect a move to $60-65 in coming weeks. NEM is highly oversold on daily and weekly charts and Copper/ GOLD seems to have bottomed in $1665 range recently. Purchased a total of 500 $52.50 NEM October 21st calls.
NEM BUY++NEM has been in oversold territory for many days and appears to be consolidating here as it's held support. I believe short term commodities have bottomed (copper, gold etc) and NEM is attractive here. I would expect a bounce to $60-65 in coming weeks.
Newmont Corp. stock analysis: Has NEM bottomed out?Newmont ( NEM ) stock prices have been falling precipitously, halving in value from highs of $86 in mid-April, due to lower gold prices and rising input costs weighing on the company's earnings.
On July 25, following the release of the disappointing second-quarter results, with EPS down to 0.46 (-30% lower than expected), the world's largest gold miner fell to a year-to-date low of $44.
Since then, however, NEM appears to have formed a very solid support at $44, which has not been broken downwards, indicating that the sellers’ strength may have faded.
NEM could have bottomed out here, but it has yet to gain traction, as prices have consolidated in a tight range between $44 and $47 over the past two weeks.
The RSI is still in oversold territory (26) but is rising slightly. Instead, the MACD provides a bullish crossover signal as the MACD line crossed from below to above the signal line.
If we are on the verge of a new bull trend, the first hurdle to overcome is undoubtedly the psychological level of $50, which served as support prior to July 25th. A breach of this level would also lead to a breakout of the 2022 bearish trendline and encourage a test of $54.04 (the 23.6% Fibonacci retracement level from April 2022 high to July 2022 low). Alternatively, if there is a fresh round of pessimism, the market may retest the $41-41.7 level that served as support in March and April of 2020.
Analysis written by Piero Cingari, forex and commodity analyst at Capital.com
NEWMONT long ideaHi All,
As seen, there is a very long trend since 2016 and we are now at base support level and bullish harmonics are formed already. RSI is at oversold level even in weekly chart and check the level of RSI for past weeks. It is almost at lowest level.
Be modest and take your profit at next resistance level.
This is not a financial advice.
Look for Short term sellHello,
Newmont is the world's largest gold mining company. From a technical point of view I see the price of this stock hiting USD 54 from the current 68.
Good luck
Short Newmont mining? Price to fall below $65.Just like many of the other commodities, Newmont mining looks overextended and is starting to turn over.
Because of how quickly it ran, I think we're likely to see a violent snap back in price back to the February lows.
I can see price going to the $60 range before continuing up and/or retesting these highs as resistance.
NEM - Strong Double BottomsFirst double bottom scenario price broke out very well
Right now we are approaching a break out as a result of a massive double bottom
Rocket emojis are appropriate
Newmont: Nearly There!Newmont has been following our primary scenario and has as good as reached the ideal destination for wave ii in magenta near the lower third of the magenta zone between $69.49 and $56.42. Thus, it should soon turn around and move upwards. However, there remains a 40% chance that Newmont could drop through the magenta zone and below the support line at $52.60, which could then entail a continuation of the descent below the next support at $46.07.
NEM eyeing a reversal NEM has retraced 25% from its recent highs but now is looking to breakout for another push higher. It has found nice support within the VPVR value area around that 63 level. Tight action within this falling wedge, bullish reversal pattern. Preferably I would like to see a breakout to test that 75 area before ER. My thoughts on ER is it wont be a catalysts for any major moves but I do see it fading after ER as previous earnings suggests.
$NEM Bullish Chart Bullish FlowNewmont corp absolute ripper breaking above '87 highs
Blue skies , all time highs gotta buy
Flow supports, like the 4/29 87 calls that swept or you can buy more time (never a bad idea) with 90 being the first price target , I also opened a JUN 85/90 spread for about 1.8
Will definitely hold the JUN , will play the shorter OPEX day by day, hopefully take profits funding a free JUN trade : )
Either was, as long as price stays above weekly 10ma (blue line) , I'm long !
2022 Actual Trade NEM +39% Profits- solid 3-month rectangle pattern at basement level 53-59 during September-December 2021
- notice 12/16/2021 NEM got a upside momemtum to 59 level that was the entry point
- there were few pullbacks to test 59 as the support in January 2022 but it bounced up quickly
- Rally occurred for NEWM during February-March when Russia-Ukraine war started
- It is a straight-up rally after January for the +39% in a few months
$NEM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $NEM after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 80%.
4/3/22 NEMNewmont Corporation ( NYSE:NEM )
Sector: Non-Energy Minerals (Precious Metals)
Market Capitalization: 65.607B
Current Price: $82.78
Breakout price (hold above): $80.10
Buy Zone (Top/Bottom Range): $77.65-$74.05
Price Target: $89.20-$90.90
Estimated Duration to Target: 65-68d
Contract of Interest: $NEM 6/17/22 90c
Trade price as of publish date: $2.56/contract
NEM bullishNEwmont looking strong
daily chart is breaking out.
made all time new highs
Gold price is also holding strong.
$USD is collapsing
US 10Y bond yield will not be allowed to rise.
Barrick still not moving as strongly.
NEM - Leading the Charge!If miners are going higher NEM is the lead horse. Strong day today after the bull flag setup we are seeing a cup forming which may include a handle or not. Indicators still looking good Mortimer!
NEMNewmont is poised to be one of the top gold mining companies. The main reason i own it is because they own a shit ton of silver reserves.
NEM - Could see a breakout soon!NEM looks like it may be ready to breakout. MACD crossover and RSI turning up. Flag breakout looks to be holding. Watching and waiting for confirmation.
$NEM got a bag on y leaps... might cash them inwhile on ST it;'s a nice bullish wedge, it's made teh MM form teh ih&S and theers' a R ine and I expect $gold to pullback this week... so might take som Ps.
