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.
NGT trade ideas
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
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: Trading the Range Newmont Corporation - Short Term - We look to Sell at 58.49 (stop at 60.65)
Trading within the Channel formation. Price action has posted a Doji candle and signals a possible reversal of the recent trend. Price action has stalled at good resistance levels and currently trades just below here (60.00). Previous support located at 52.50. Offers ample risk/reward to sell at the market.
Our profit targets will be 52.58 and 50.50
Resistance: 60.00 / 62.00 / 65.00
Support: 52.50 / 50.00 / 45.00
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Buy $NEM - NRPicks 20 AgoNewmont Corporation is engaged in gold production and exploration. It also explores for copper, silver, zinc and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia and Ghana.
-Revenue TTM 12.4B
-Net Income TTM 2.8B
-EBITDA TTM 6.4B
-Cash TTM 4.8B
-Net Margin TTM 23%
-EBITDA Margin 51.3%
-P/E 5.69
-Dividend Yield 3.89%
-P/B 1.95
NEM to $100Miners, metals, hard assets, etc. will moon
Buy when nobody gives a shit and when they are cheap. Can this dip to $44-46 - sure, just buying more if that happens.
Also, half of my posts are going private for now with a few public ones in between.
I am dropping another one for you that will triple in price (see link to a private post under related ideas below)