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Newmont Corporation

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NEM trade ideas

Newmont and the possible reversalAfter the huge selloff in the gold market there are several signs of a possible reversal of Newmont. So let´s sum up the body of evidence: 1. The price is right at a significant support level 2. It has formed a hammer reversal pattern at the support level 3. We have a positive divergence with the RSI and MACD 4. At the support level we saw a spike in the volume although the price was not selling off anymore. This is a sign of a allocation 5. A Entry when the RSI reading was below 35 in the daily chart was in the recent past a profitable strategy
NYSE:NEMLong
by Cape-Peninsula-Capital
1
NEM : RESET / POSITION TRADE / HEDGENewmont Mining just came off a record quarter in Q3 with free cash flow of ~$1.3 billion, and increased its dividend by 60% to $1.60 per share annually. Despite these bullish developments, the stock has slumped with the rest of the sector, down more than 20% from its August highs. This correction has left the stock trading below 13x FY2021 annual EPS estimates, with a dividend that's 70% higher than that of the S&P 500. Therefore, if we see any further weakness below $57.25, I would view this as a low-risk buying opportunity for long-term investors looking for steady free cash flow and yield. seekingalpha.com
NYSE:NEMLong
by TradingMavericks
Newmont CorporationChart pattern: Bull flag Entry: 65.78$ (this would end the downtrend which is active since the beginning of August 2020) Stop: 54.18$ Target: 93.354 Stopmanagement: ATR Stops weekly chart default settings Risk:Reward-Ratio: > 2.3:1 Description: Since August 2020 the chart is forming a bull flag with a nice corrective pattern (which retraced under the 38 Fibonacci retracement). Target is the 1:1 Fibonacci extension of the former impusliv move. Additionally, the MACD is also confirming the change in trend. Ordersize: If you have a 10000K to trade and you only want to risk 1% of your volume, you can enter this trade with 570$.
NYSE:NEMLong
by Cape-Peninsula-Capital