How the price action of Newmont Corp ($NEM) is used to our Advantage
March 14, 2023, 12:15 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for NEM
- Buy NEM slightly over 40.21 target 50.20 stop loss @ 40.09 Details
The technical summary data tells us to buy NEM near 40.21 with an upside target of 50.20. This data also tells us to set a stop loss @ 40.09 to protect against excessive loss in case the stock begins to move against the trade. 40.21 is the first level of support below 44.485 , and by rule, any test of support is a buy signal. In this case, support 40.21 is being tested, a buy signal would exist.
- Short NEM slightly under 50.20, target 40.21, stop loss @ 50.34 Details
The technical summary data is suggesting a short of NEM as it gets near 50.20 with a downside target of 40.21. We should have a stop loss in place at 50.34though. 50.20 is the first level of resistance above 44.485, and by rule, any test of resistance is a short signal. In this case, if resistance 50.20 is being tested, a short signal would exist.
Swing Trading Plans for NEM
- Buy NEM slightly over 50.20, target n/a, Stop Loss @ 50.06 Details
If 50.20 begins to break higher, the technical summary data tells us to buy NEM just slightly over 50.20, with an upside target of n/a. The data also tells us to set a stop loss @ 50.06 in case the stock turns against the trade. 50.20 is the first level of resistance above 44.485, and by rule, any break above resistance is a buy signal. In this case, 50.20, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short NEM slightly near 50.20, target 44.21, Stop Loss @ 50.34. Details
The technical summary data is suggesting a short of NEM if it tests 50.20 with a downside target of 44.21. We should have a stop loss in place at 50.34 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 50.20, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for NEM
- Buy NEM slightly over 44.78, target 50.20, Stop Loss @ 44.68 Details
If 44.78 begins to break higher, the technical summary data tells us to buy NEM just slightly over 44.78, with an upside target of 50.20. The data also tells us to set a stop loss @ 44.68 in case the stock turns against the trade. 44.78 is the first level of resistance above 44.485, and by rule, any break above resistance is a buy signal. In this case, 44.78, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short NEM slightly near 44.78, target 44.21, Stop Loss @ 44.88. Details
The technical summary data is suggesting a short of NEM if it tests 44.78 with a downside target of 44.21. We should have a stop loss in place at 44.88 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 44.78, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Real Time Updates are available on our Newmont Corp (NEM) Page here: NEM.
NEM Ratings for March 14:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Weak |
| P1 |
0 |
0 |
31.04 |
| P2 |
42.75 |
42.10 |
40.21 |
| P3 |
44.78 |
44.21 |
50.20 |
Support and Resistance Plot Chart for NEM
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Newmont Corp (NYSE: NEM) data table below can help you with price action, and we have more details too. Trading plans for NEM are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for NEM:
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