ASX: Newmont Corporation – NEM Elliott Wave Technical Analysis – TradingLounge
Greetings,
This Elliott Wave analysis update covers Newmont Corporation (ASX: NEM), listed on the Australian Stock Exchange.
Our technical review indicates that ASX: NEM is advancing within a bullish wave three pattern. This report includes key price targets and invalidation levels to help assess the trend’s strength and sustainability.
ASX: Newmont Corporation – NEM Elliott Wave Technical Analysis – Daily Chart (Semilog Scale)
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave (iii) – orange of Wave (iii) – navy of Wave 3 – grey
Analysis Overview:
The corrective wave ii) – orange appears complete at 74.25, forming a classic zigzag pattern (a, b, c – grey). Since reaching this low, wave iii) – orange has initiated an upward move, with a projected target near the 100.00 level.
Key Invalidation Level: 74.25
ASX: NEM Elliott Wave Technical Analysis – TradingLounge (4-Hour Chart)
Newmont Corporation
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave iii) – orange of Wave ((iii)) – navy of Wave 3 – grey
Short-Term Forecast:
Consistent with the daily chart, wave iii) – orange continues to gain strength, maintaining an upward trajectory toward 100.00. In the near term, wave iii – grey is pushing higher with a closer target around 90.00.
Key Invalidation Level: 77.39
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
This Elliott Wave forecast for ASX:NEM highlights both medium and short-term bullish momentum. The analysis delivers precise price objectives and invalidation markers to enhance decision-making confidence. For traders focused on ASX-listed mining stocks like Newmont Corporation, this structured technical outlook provides a reliable reference for identifying potential opportunities and risks.