very very attractive for a buy on the rise
The expansion is magnificent, a 50% decline already gives an attractive business with the possibility of breaking highs, it is a great value
NEM trade ideas
[Long] Gold MinersNEM leading today, technically very nice breakout of channel. High volume sell day got reversed and couldn't test lower trendline. 4 green soldiers. Should spread to the rest of the sector eventually.
No matter who wins election, deficits and debt blow out to ridiculous levels.
Unfortunately I don't own this one but it's indicative of large money buying/already allocated into the sector. Large money buys the big companies with liquidity, first.
NEM wait for 14|11 to open . w44 2020Weekly
In Uptrend
Now is on correction or reversal from HH
Daily
Downtrend and bounce from SR level
4H
Double Bottom formation in downtrend
Seems like reversal to check 63.35
Could be buy after retested it,
Wait and see what happens on 14 of November with Gold
If it is not for downtrend in Gold then open buy
Open 63,5
SL 62
TP 68
NEWMONT CORPORATION at a CRITICAL LEVEL for its future priceNEWMONT CORPORATION at a CRITICAL LEVEL for its future price.
Closing a weekly candle above that trendline, would break a multiyear pattern, and activate all the other possible targets in red.
Otherwise, in case of rejection, the supports are in green.
Newmont Corporation (NEM) Bearish DivergenceA Reaction low formed after testing the Upper Bollinger Band and the (Resistance area of 19 September 2011) ,We then seen a Test of Support (Middle of Bollinger Band) and (Previous Local Resistance), found support there and
moved up to test the Upper Bollinger Band, exceeding the previous high but Rejecting the test of the upper Bollinger Band (Also being The High from 07 November 2011) causing a reaction low to find and test a (New Low)
NEM buy the dip, don't buy falling knives.So, NEM has been rejected and made a nice retrace already.
What we need to do is monitor closely now and do the following.
We need to look for is 2 things:
- Arrival at a significant level of support.
- Signs of reversal at this support like; bullish divergence , engulfing candles, large wicks, big volume on bounce, falling wedge , inverted head and shoulder, etc.
The 2 supports to look out for:
1. USD 59-60, the one we are currently at. Represents the 0.618 fib of the most recent impulse (black fibs) and has horizontal support.
2. USD 52-53.50, representing the 0.5 fib on the larger upward impulse since the corona crash in march (blue fibs). This area has very strong horizontal support as well, hence i'm marking the 0.5 fib rather than the 0.618 fib.
NEM Break Out Target YTD high 72-76If NEM breaks out of the megaphone, risk would be skewed towards upside of 72 (R1) and 76 (R2)
Current position: None (as already heavy in GDX)
Disclaimer: These should be seen as the commentator's Notes to Self. Hopefully educational but aiming for entertaining. No legal or financial liabilities should be pursued from these materials.
NEWMONT miningGOLD Mining corporation
if the monetary easy continues, the GOLD price are rising up and also GOLD mining firm's profit expect to be more higher level.
Strategy:
If this 68.9 support level to be confirmed, then the price are to be 78.58 fibonacci extention level 0.5.
Addition to that here 78.58 are N shape forming point.
Good profitability point
disclaimer: This is just my thought and strategy. pls trade depend on your logic and your responsibility.
NEM - Potential Profit 4.47% - Ascending Triangle2-month support established and confirmed multiple times in an uptrend corridor. Ascending Triangle formed within, just broken out.
- 6-month Uptrend and All-time High
- RSI + Stoch well above 50
- MACD below Signal.
Suggested Entry $69.50
Suggested Stop Loss $214.69
Target price $72.64
NEM Rising channel, heading to 2 week highNEM Rising channel, heading to 2 week high of $68.88. Newmont is the world largest gold producer and ready to hit 52 week highs. The gold miners have lagged GC futures and GLD etf. Barrick gold is the 2nd largest producer and has a perfect ascending triangle. With FOMC july 30th, I expect these to breakout before and I would take some profits before known event. Still working on my videos, haha. thanks for watching! GL!
