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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Bruce, NEM fell 4% last night but not as bad as many other US...
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Last
$72.25 |
Change
0.850(1.19%) |
Mkt cap ! $10.16B |
Open | High | Low | Value | Volume |
$72.28 | $73.27 | $72.03 | $45.60M | 627.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 53 | $72.21 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$72.25 | 99 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 239 | 72.190 |
6 | 84 | 72.180 |
2 | 18 | 72.170 |
2 | 58 | 72.160 |
3 | 47 | 72.140 |
Price($) | Vol. | No. |
---|---|---|
72.200 | 154 | 5 |
72.210 | 29 | 1 |
72.220 | 82 | 3 |
72.230 | 45 | 1 |
72.250 | 16 | 1 |
Last trade - 13.26pm 25/07/2024 (20 minute delay) ? |
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NEM (ASX) Chart |