Newmont Basing For Reversal

Newmont mining (NEM) has been in the news lately on M&A rumors. Looking at the stock reveals a 5 months Head & Shoulders bottom. Interesting the neckline intersects with NEM  200MA. A breakout should be significant with an implied target of $31.80. Note that NEM reports earnings tomorrow Apr 24th.

Like the idea? Subscribe on the right for instant updates

 

nem


Nasdaq Is Saved

The Nasdaq (COMPQX) has been saved today as it has almost completed a 4 months broadening top. Both the Nasdaq and Russell 2000 have a similar top. But recently the nasdaq has been the weaker index. A close below 3968, implies a target of 3,580.

compq


Jet Blues

A 5 months complex Head & Shoulders top is forming in JetBlue (JBLU) with neckline at 8.20, which was broken intra-day yesterday. A decisive break would imply a target of $7.

jblu


Palladium Diamond

After breaking out of the triangle as expected in a Feb post, Palladium was volatile last month but traded above the triangle. The metal then formed a tiny 5 week diamond pattern, which is breaking out today confirming the initial triangle thrust. Implied target is $835. Stop @ 779.

2palladium


A Billionaire’s Pick

Exco Resources (XCO) completed a 5 months rectangle bottom by breaking out today with an implied target of $6.70. Stop loss @ 5.54. This may well be a reversal as this stock has been on a downtrend for the last 4 years.

Wilbur Ross Jr., owns almost 25% of the XCO at an average price of $11 ! If you don’t know the guy, well he is just another billionaire. More about him here

If you become a billionaire with XCO, pls send me 1% fee for this idea 🙂

xco