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$23.35 newcrest mining limited

NCM chart, page-83

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andrew9484

1,843 Posts.

197

03/01/20

17:31

Post #: 42216131
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Originally posted by flaming: ↑

This is a post from back in October. I was scarily right on my assessment.

View attachment 1915951

I suspect there is a concerted effort from big players to knock out the retail people.
Today is a very good opportunity to frustrate retail holders,( which I assume lot of us are right now).

Although the company had a weak September quarter, (on my conversation with Chris Maitland the company secretary, NCM always has a weak first quarter due to lots of scheduled maintenance during that period). The drought has no effect in NCM business as NCM has 70 Giga litres of water storage. So far there is no change in guidance. If there was management would have notified by now as the Dec quarter is over.

Today's share price action would frustrate the most patient holders.

Selling started from the opening bell and hasn't stopped.
This kind of selling without any news is unsustainable.
Stop Loss hunting comes into mind.
I expect this to turn back around $30 mark.

I have bought as much as I could, waiting for the turnaround.
Without this blatant manipulation the stock should be at least above $34-35.
When the HFT/BOTS/ALGORITHM'S are ready the stock will rise very quickly.
I have been through a few of this kind of price action where they drive the retail holders mad.
It's demanding patience right now.

Expand

Nailed that 2nd chart to a tee.
I can’t say that I saw mid 30’s as any resistance zone.
but the Daily chart is still looking good. would like to see
31.40 broken with a 5% day and then follow through

NCM Price at posting: $30.18 Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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NCM chart, page-83

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BCI reaches close of funding facility for salt-first part of Mardie project

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Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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