NCM 1.06% $26.70 newcrest mining limited

ncm - for b2

  1. 9,081 Posts.
    Hi B2,

    It's not easy to chart gold stocks given the fact that they are so price sensitive to the volatilities in the gold price.

    In the current "flat" gold market at the moment where the POG has undergone retracement (and may even fall further to below $340) the advance in most gold stocks has been put on hold.

    NCM has held up pretty well, all things considered.

    I liked it when, some time ago, it closed above the key $7.72 level. It closed below that today but 30th June is not a typical trading day - too much window dressing and end of financial year shennanigins going on, especially in the blue chip stocks by the institutions.

    The weak close today may support your view but I am not so sure. From a fundamental point of view I am very comfortable holding NCM for the medium / long term.

    From a charting point of view (and here I am by no means an expert) a safe entry would be once NCM closes on volume above $8.41. Once clear of that key resistance NCM would be into a clear resumption of its uptrend with the next barrier above $10.00

    That's how I am reading it at the moment. It may take some time to close above that $8.41 level .... then again, who knows what the POG may do?

    NCM may take off sooner rather than later.

    As I said before: "NCM - the best stock on the bourse".

    Then again, I am a biased holder of NCM.

    Good luck.
watchlist Created with Sketch. Add NCM (ASX) to my watchlist
(20min delay)
Mkt cap ! $21.82B
Open High Low Value Volume
$26.60 $26.73 $26.36 $82.94M 3.117M

Buyers (Bids)

No. Vol. Price($)
1 2000 $26.68

Sellers (Offers)

Price($) Vol. No.
$26.70 17273 3
View Market Depth
Last trade - 16.10pm 09/04/2021 (20 minute delay) ?
0.280 ( 0.92 %)
Open High Low Volume
$26.60 $26.73 $26.37 653203
Last updated 15.59pm 09/04/2021 (live) ?
NCM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.