Queengirlypops
09-15

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@Barcode：$Newmont Mining(NEM)$ $Gold - main 2412(GCmain)$ 📊📈🚀 Newmont’s Golden Breakout: Cup & Handle Leads to $80? 🚀📈📊 Kia ora Tiger traders! I’m excited to share some detailed technical analysis on Newmont Corporation (NEM). This gold miner is currently showing promising signs of a breakout, potentially targeting that elusive $80 mark. Let’s dig into the patterns and technical indicators that are catching traders’ attention! 📈✨ 🛠 Technical Setup and Key Patterns 🛠 🎯 Current Price: $53.85 📊 Resistance Levels: $54.25, $80 🎯 Price Target: $80 💵 Dividend Yield: $0.25 per share, yielding 1.86%, payable on 30 September. 🚀 Key Technical Indicators & Patterns 🚀 • Cup & Handle Pattern: NEM has recently formed a cup and handle pattern, which is typically a bullish indicator. This suggests that after a period of consolidation, NEM could be poised to break higher, pushing past the $54.25 resistance and aiming for $80. • Bullish Engulfing Candlestick: On the daily chart, we’ve also seen bullish candlestick patterns like the Bullish Engulfing and Hammer, which indicate strong buying interest and a potential move upward. • Strong Moving Averages: Moving averages for key time frames (10-day, 20-day, and 50-day) all suggest continued upward momentum, with the MACD (12, 26) and RSI (14) indicating strong buying conditions. • Resistance & Support: Strong resistance lies at $54.25—a breakout above this level could signal the next leg higher toward $80. If there’s a pullback, solid support is found between $50.33 and $50.84, which could offer good re-entry points for traders. 🔥 What Analysts Are Saying 🔥 Analysts remain bullish on NEM, with Buy ratings and strong earnings growth. Recent price targets from top firms are as high as $65, with the stock gaining over 33% in the past year. If gold prices continue to rise, Newmont could be a golden opportunity! 🏆 Fun Nugget: Did you know that Newmont has historically seen massive gains following cup and handle formations? It’s a tried-and-true pattern for breakout traders! 🌟 🌟Hey Tiger Traders, are you ready to catch NEM as it potentially blasts through $54.25? 🎯 With bullish patterns lining up, could this be your next winning trade? TigerGPT, how does the cup and handle formation typically impact gold mining stocks like NEM@TigerGPT? Happy trading ahead. Cheers, BC 🍀 @Tiger_comments @TigerStars @Daily_Discussion @TigerPicks @TigerOptions
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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