Australia's largest stock trading and investment forum Australia's #1 stock forum

NCM

Click for more information

0.00%

$23.35 newcrest mining limited

Just a little update to those following this trade setup......

First 41 Last

Share
Profile

Follow
Exised

6,382 Posts.

3081

28/07/20

09:34

Post #: 46113221
Share

Originally posted by Exised: ↑

The action today warrants a trade update on this. Now that we have broken past the shoulder, I have now set a price target of $43.74. I will however liquidate half of the holding around $38-38.50, per the 35% upside in the initial post above. The rest I will liquidate around $43.75.

However if there is a heavy retracement after we hit $38, then this tells me that she is forming a cup and handle formation. I will be buying on the shoulder line again with a sell on 43.74 still. If this retracement scenario happens then the initial trade above will go to 'the early part of 2021. If you can't handle that sort of time-frame (I'm looking squarely to those on margin) then I suggest you liquidate all on the $38-38.50 mark and settle for the 35% upside than waiting for the 56% upside.

As usual DYOR and above is NEVER financial advice. It is for entertainment purposes only.

Expand

Just a little update to those following this trade setup... $43.74 is still the price target and taking some profits at $38.50. Post #: 45702803

Gold action is very encouraging at the moment but eyes on the prize people...payday on this trade is now around the corner. Congrats all.

NCM Price at posting: $36.31 Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

AR3

Overland drilling proves promising for Australian Rare Earths' uranium hopes

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

CPV

ClearVue inks deal with UK heated glass player to combine solar tech with its offering

Trump is President Again: What Does This Mean for Crypto?

There are more pages in this discussion • 46 more messages in this thread...

First 41 Last

Add NCM (ASX) to my watchlist