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$23.35 newcrest mining limited

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

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Exised

6,134 Posts.

2845

28/07/20

09:34

Post #: 46113221
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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.

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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
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