Reasons for bullish bias:
- Price is at near weekly support
- Price is at channel support
- Bullish divergence
- Positive earnings results
Entry Level(CMP): 29.80
Stop Loss Level: 28.72
Take Profit Level 1: 33.11
Take Profit Level 2: Open
Gold has been doing well. Newmont Mining (NEM) being one of the gold miners has seen a decent rally too.
NEM is overbought on the daily with a RSI over 70.
As we can see, we approached a diagonal downsloping trend line. There has been multiple hits on this trend line.
I expect NEM to pullback from here in the short term to about 28 dollars which would then...
In this video, I describe my trade idea, how I executed it, and recap the move it is making towards my target. I also briefly explain how I am reducing risk.
Newmont Corporation (NYSE: NYSE:NEM ) has set the stage for a lucrative deal with the initiation of the sale of its Akyem gold mine in Ghana, attracting significant interest from Chinese mining giants amidst the backdrop of soaring gold prices.
Strategic Move Amidst Gold Boom:
With gold prices reaching new heights, Newmont's decision to divest its Akyem gold...
There was a surge in bullish sentiment following the release of NVIDIA’s stunning results. The rally across stocks was broad-based, making it difficult to find anything that failed to post hefty gains yesterday. Well I’ve found one. Newmont Mining Corp, the world’s biggest gold miner, didn’t just fail to rally. It absolutely tanked, ending yesterday’s session down...
Price is landing on an important support area. This a gold and copper mining company, the stock pays 4.5% dividend yield. I see gold going up in medium term, next year I believe gold will be trading around 2200 and will pull up this stock. I own this stock for the dividends and I believe is going to hit the 45 next year. I'm collecting the dividends while I'm...
Our scanners pointed us many opportunities to look out tomorrow, and good signals are as we share in the idea.
We see two possible breakout movement from two stocks and we should watch tomorrow opening for a possible good trade.
Many traders have their eyes focused on spot gold breaking out. With gold miners near their lows, they are compelling trades. Two of the largest holdings within the gold mining ETF AMEX:GDX is NYSE:NEM and $GOLD.
YTD performance:
AMEX:GDX +5.6%
NYSE:NEM -16.7%
TVC:GOLD +0.29%
During gold bull markets, NYSE:NEM outperforms AMEX:GDX and TVC:GOLD ...
Despite the bull run in Gold prices Year-to-date, we have not seen it being reflected in Gold Miner's stock prices. As Gold prices attempt to break above the $2,000 resistance, Gold miners' stock prices have been falling in the same period (YTD) and this provides us with a discounted entry into gold miners' stocks.
Newmont, like other great stocks have had a rough year.
It's very likely that this stock will see a substantial increase in price over the next couple years.
People around have been asking me why I am bearish on gold and gold miners stock despite the war in Ukraine, Israel Hamas conflict in the middle east and even now, at the impending end of cycle rate hike by Federal Reserve.
I am, on the contrary, very bullish on gold and gold miners' stocks, but not until a steep price drop in the near future. The sooner it drops...
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 36.4/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : C
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
