NCM 1.45% $28.72 newcrest mining limited

premier gold stock now in clear uptrend

  1. 9,081 Posts.
    Today's close for NCM of $8.50 on volume is a bullish sign as it has now taken out the March 2000 high of $8.41 ( I thought that this would happen yesterday but no matter as today's price action was very convincing).

    NCM's uptrend is now confirmed and back on track. Reistance is now at $10.76 then $13.00 .... and after that nothing until above $17.00. If the momentum of the gold bull market is sustained then NCM could conceivably take out its all time high of $20.66.

    From a fundamental point of view this stock has all guns blazing. Production is well up with production cost dramatically falling. Its forex hedging has positioned NCM nicely to take advantage of the strong $A. Telfer is its ace in the hole, and the last Q report shows that all is on track and on budget to meet prospective targets.

    There is only one hurdle, as I see it, that could preclude NCM from reaching these targets in a gold bull market .... and that is if it meets the fate of Normandy and Aurion Gold.

    A corporate play on NCM cannot be ruled out of the question.
 
watchlist Created with Sketch. Add NCM (ASX) to my watchlist
(20min delay)
Last
$28.72
Change
0.410(1.45%)
Mkt cap ! $22.08B
Open High Low Value Volume
$28.70 $28.75 $28.27 $98.64M 3.429M

Buyers (Bids)

No. Vol. Price($)
1 57 $28.67
 

Sellers (Offers)

Price($) Vol. No.
$28.74 5545 3
View Market Depth
Last trade - 16.10pm 21/02/2020 (20 minute delay) ?
(live)
Last
$28.67
  Change
0.410 ( 1.24 %)
Open High Low Volume
$28.63 $28.75 $28.28 201098
Last updated 15.59pm 21/02/2020 (live) ?
NCM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.