NEM trade ideas
NEMThis is the #1 metals stock i recommend to own and my top holding. I am posting this a bit late as i got back in above the gap but i still dont think it's too late to buy. We may see a correction after this next wave up but i dont think it will be large and is why im saying to buy now. If you want to wait just buy a breakout of the previous high. The acceleration on this rebound is huge, also we are breaking multi year highs on this baby. I think NEM will be the big winner if gold continues its bull market as i expect it to. With the rate cuts its almost guaranteed, they are in panic mode now... expect more stock market crashes in about 2 months time!
NEM looks to go higher. Newmont Mining looks primed to go higher...
Goodluck (Not trading advice).
NEM
NEM : Daiy chart, pullback expected - minor cycle bottomNow that we have looked at our view on weekly charts, lets look at the daily charts. (attached below the analysis on weekly charts, better t read that first to have the forthlooking view)
Weekly chart on the minor cycle suggests a minor pullback in the beginning of March 2020. As we are aware, price may bottom a few candles around this and we may expect last week of Feb and the first week of March to show a minor pullback. Price around $42 and $41 is an important cycle resistance/ support zone from previous weekly cycles.
A look at the candles and we can see some signs of signals of short term market overbought conditions and also RSI showing overbought status.
Wait for the pullback and then price may retest the upper resistance zone
Look out for more action on this!
Weekly chart for NEM : Bullish near term, mid cycle analysis
Lets have a look on what's happening with NEM. We are in the mid range of the larger cycle on weekly charts and we may be seeing a minor bottom on the smaller cycle as evident in the chart. This large upward spike in the chart on the weekly candle may also be a sign of exhaustion or a partial entry to a testing zone/ congestion area
$46 to $49 would be expected to be a resistance zone on the FIB ext levels. Price may test this zone and then look for support. Minor support expected between $40 to $43 levels and intermediate support between $35 to $38 levels
From RSI perspective, the November 2019 weekly bottom on the major cycle, showed a bullish support on RSI and in the whole rally that has ensued since then, we have seen price 35% over the last 12 to 14 weekly candles. Price targets were revised upwards given the bullish upwards move in Gold. Also, price has not yet shown signs of being overbought, price action may still have some upward move as indicated above
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Newmont Gold breaking OutExtremely significant long term breakout for $NEM Newmont #Gold. This setup is looking poised for a run to $58
NEMIve posted ideas on NEM before and im still hodling this monster stock. Just thought id put this up as earnings are out tomorrow and we are ready to break a very significant level. NEM is one of my favorite buy and hold positions for the silver and gold bull run. By this i mean silver is about to go to the moon and NEM has a monster pile of the stuff!
$NEM Before earningsNewmont Goldcorp Corporation ($NEM) is scheduled to announce its earnings on Thursday, February 20 before the market opens. It could be the catalyst to break this resistance level. Weekly chart.
Newmont Corp. Bullish into earnings Newmont 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.
NEM - still consolidatingNEM is still consolidating its move. Earnings on deck next week. I think this has a couple bucks of downside at most. Doubt it will break the indicated support. Still needs to take out the 2016 high. Next move up should do it and there will not be much resistance above.
Newmont breakoutok so the price has broken out
of a triangle setup. Barrick is at also
very close to breakout. these 2 signal
further rises in the price of GOLD in $USD
NEM - Perfect for the 2020 Election YearWant a different way to play gold? Buy a miner! This is one of the top rated out there and it looks like it's about to breakout. In order to take the trade I will have to see a close above 46.07 on a weekly basis.
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NEMNewmont breakout of recent high and very close to major breakout zone at 44.87. I would buy here and exit if the trend line breaks.
I'm trying a little short hereProbable DBL TOP (M) forming, Bearish div in the RSI, Willy stupid, M forming in the OBV
risk 0,9% of the position
NEM critical Technical Level; Can It Hold?Newmont Goldcorp NEM is holding at a critical technical level right now. With this volume, it's hard to ignore. However, make sure to note the strategy the company is taking up right now. Deals and strategic investments. They just threw another $8 out there. This time it was to GTT .
QUOTE
"It’s also important to keep in mind other big deals that the company is part of. Namely, the strategic investment GT received earlier last month. Newmont Goldcorp closed on a C$8.3 million financing with GT Gold. The proceeds are slated for funding “all expenditures up to and including the Saddle North Preliminary Economic Assessment.” The specifics of the deal show Newmont receiving 6,877,199 shares at an average price of $1.20."
QUOTE Source: Top Gold Stocks To Buy Or Avoid After Key Updates
[Long idea] NEM Monthly.Newmont is the only gold mining stock that's inside the S&P 500 index. So, it's a neat way to ride Gold miners while catching inflow (and outflows...) from the S&P.
I think that explains its relative outperformance to GDX this month, since the S&P really ripped on the backs of Not QE.
This is probably one to watch and buy every dip.
Newmont Goldcorp for 2020Entry level $43.69 = Target price $50.00 = Stop loss $41.70
Speculation regarding the rise of gold in 2020 is strong as we enter a election year and many geo political issues worldwide.
Gold is seen as the safe haven and gold miners are they obvious benefactors.
NEM Pivot ZoneLooking for a long here on this one. As usual, I like 3-4 month ATM calls upon a breakout above the 42 level.
NEM - Showing strengthGold is down some $16 today and NEM is hardly down holding the break of the downtrend channel. The most recent impulse leg took out two important prior peaks and I see this to just under $42 on next move. Volume picking up and 20 day coming up through 50 day and 100 day. Looks like 50 day wants to cross back above the 100 day as well. Still has room in MACD and RSI. NEM has been in a very tight consolidation. I expect this to lead the next leg higher.
