NEM 3.22% $64.69 newmont corporation

Bruce, NEM fell 4% last night but not as bad as many other US...

  1. 354 Posts.
    Bruce,
    NEM fell 4% last night but not as bad as many other US gold stocks I track ... they fell (5%-9%). NEM has next long term support at between US$30-$31 ($30.50). This will be the line in the sand that makes or breaks this trade. I personally think it was oversold today and will bounce next week. I am still looking for AU$5.05 to break and hold for a few days, although a contrarian investor might be tempted to pick a low around US$31 and buy in then ;)

    The price of gold fell some $5 in the US last night. This might cause a sell off in shares today but gold is still good technically and in an uptrend. It's 200 day MA is the key here and if it breaks $340 for a few days I say gold is going much lower but IMO it won't crack the 200 DMA. By Friday gold will have recovered to levels we were at yesterday, huge call but I stick by it.
    And by the way gold will not hit $300 for years, many years that is!

    http://stockcharts.com/def/servlet/SC.web?c=$gold,uu[w,a]dallynay[df][pb50!b200!f][iUp89,21,55]&pref=G
 
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Last
$64.69
Change
2.020(3.22%)
Mkt cap ! $9.495B
Open High Low Value Volume
$64.56 $64.87 $64.54 $21.65M 334.6K

Buyers (Bids)

No. Vol. Price($)
3 2366 $64.69
 

Sellers (Offers)

Price($) Vol. No.
$64.70 113 1
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Last trade - 16.10pm 04/07/2024 (20 minute delay) ?
NEM (ASX) Chart
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