27May

Unlocking ASX Trading Success: NEWMONT CORPORATION - NEM Stock Analysis & Elliott Wave Technical Forecast

ASX: NEWMONT CORPORATION - NEM  Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NEWMONT CORPORATION - NEM. We see that wave ((iv))-green appears to be nearing completion, and following that wave ((v))-green could return to push higher.

ASX: NEWMONT CORPORATION - NEM  Elliott Wave Technical Analysis  

ASX: NEWMONT CORPORATION - NEM  1D Chart (Semilog Scale) Analysis

Function: Major trend (Minute degree, green)
Mode: Motive
Structure: Impulse
Position: Wave (c)-purple of Wave ((iv))-green  
Details: The short-term outlook indicates that wave (iv)-purple has ended sooner than expected, and wave (v)-purple is unfolding to push higher. Now, waves i and ii-blue have just completed, and wave iii-blue is unfolding to push higher, targeting 69.81. It is essential for the price to remain above 63.66 to maintain this outlook.
Invalidation point: 53.22

Newmont-Corporation-...


 

ASX: NEWMONT CORPORATION - NEM  Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: NEWMONT CORPORATION - NEM  Elliott Wave Technical Analysis

ASX: NEWMONT CORPORATION - NEM  4-Hour Chart Analysis

Function: Major trend (Minute degree, green)

Mode: Motive

Structure: Impulse

Position: Wave (c)-purple of Wave ((iv))-green

Details: The shorter-term outlook indicates that wave ((iv))-green appears to be unfolding as a Flat pattern. Waves (a) and (b)-purple have completed, and now wave (c)-purple is unfolding to push slightly lower, potentially finding support around 61.48. After that, wave ((v))-green can resume to push higher.

Invalidation point: 53.22

Conclusion:  

Our analysis, forecast of contextual trends, and short-term outlook for ASX: NEWMONT CORPORATION - NEM  aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support

Newmont-Corporation-...

Related

Bharat Electronics Ltd (BEL) Elliott Wave Stock Analysis: Price Targets, Support & Resistance Levels, and daily and 4H chart insights

Bharat Electronics Ltd (BEL) Elliott Wave Stock Analysis: Price Targets, Support & Resistance Levels, and daily and 4H chart insights

Bharat Electronics Ltd (BEL) Elliott Wave technical analysis, highlighting daily and 4H chart insigh...

Read More >
British Pound/ U.S. Dollar Elliott Wave Analysis: Navigating GBPUSD Price Movements Effectively and Anticipate the Next Bullish Trend

British Pound/ U.S. Dollar Elliott Wave Analysis: Navigating GBPUSD Price Movements Effectively and Anticipate the Next Bullish Trend

This article offers an in-depth GBPUSD Elliott Wave analysis, focusing on both daily and 4-hour char...

Read More >
State Bank of India Elliott Wave Analysis: Daily corrective Wave 2 and Weekly bullish Wave 5 insights with forecasted breakout potential

State Bank of India Elliott Wave Analysis: Daily corrective Wave 2 and Weekly bullish Wave 5 insights with forecasted breakout potential

In daily analysis, SBI is in a corrective Orange Wave 2 within Navy Blue Wave 5, awaiting Wave 3....

Read More >
S&P 500 Elliott Wave Analysis: Gray Wave 2 Correction, Orange Wave 5 Forecast, Market Trends, and Trading Strategies

S&P 500 Elliott Wave Analysis: Gray Wave 2 Correction, Orange Wave 5 Forecast, Market Trends, and Trading Strategies

The S&P 500 Elliott Wave analysis focuses on the current corrective phase of Gray Wave 2 and the bul...

Read More >
Our Insights Cover Wave Patterns, and Market Trends: Australian Dollar/U.S.Dollar (AUDUSD) Forex Elliott Wave Technical Analysis

Our Insights Cover Wave Patterns, and Market Trends: Australian Dollar/U.S.Dollar (AUDUSD) Forex Elliott Wave Technical Analysis

Discover the most comprehensive AUDUSD Elliott Wave analysis and Forex trading strategies. Our exper...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on