Newmont Corporation (NEM)
Date of Analysis: July 18th, 2023
We are adding Newmont Corporation (NEM) to our fast movers roster.
TIME Target: We should see a major low on NEM on September 6th or November 17th, +/- a few trading days.
PRICE Target: We have a $30 ($+/- 3 ) target.
Projected Move: Once the bottom is put in place we expect NEM to surge to as high as $150 within about a year.
Price variable or anticipated projected bottom target above will help us determine which TIME turning point will mark the bottom. For instance, if we are not pushing below $35 by early September, November 17th will be the bottom.
Trading Recommendation: As soon as NEM reaches $33 or lower by one of our TIME turning points above, a long position should be built. Stop loss at $25.50. Once the bottom is put in place, NEM has the potential to surge to as high as $150 within a year.
A more detailed analysis will be available as we get closer to our Price/Time target above. Will tighten entry and stop loss points there as well.
