Newmont Mining (NEM) is the world’s largest gold producer, with a diversified portfolio of mines and projects spanning North America, South America, Australia, and Africa. Founded in 1921 and headquartered in Denver, Colorado, the company plays a central role in the global precious metals market, offering investors exposure to gold and other resources through its scale, operational expertise, and long-standing industry presence. This article looks at the Elliott Wave Outlook for the stock.
Newmont Monthly Elliott Wave Chart
Newmont Mining (NEM) is in the midst of a strong bullish advance, highlighted by its monthly Elliott Wave structure. The chart points toward a breakout that should carry the stock to new record highs. Back in September 2000, NEM completed wave ((II)) of the Grand Super Cycle at $12.75, laying the foundation for a powerful nested impulse. From there, wave (I) climbed to $62.72 before wave (II) retraced to $15.39. The current wave (III) is unfolding, with wave I peaking at $86.37 and wave II correcting down to $29.42. Provided the stock holds above the $15.39 threshold, the upward trajectory remains intact, suggesting further strength ahead.
Newmont Daily Elliott Wave Chart
The daily Elliott Wave outlook for Newmont Mining (NEM) highlights a clear sequence in its price action. After completing the wave II correction at $29.03, the stock has shifted into wave III, marking a renewed bullish phase. From that low, wave (1) carried prices up to $58.72, before wave (2) pulled back to $36.86. Wave (3) is now unfolding and appears close to completion. Wave (4) consolidation should happen soon before the next leg higher. As long as the $29.03 support remains intact, NEM retains strong potential to extend its advance within wave III.
Newmont Mining (NEM) falls outside our routine coverage. However, we provide in-depth analysis on closely linked assets including Gold, GDX, and XME. For broader, continuous insights across equities, ETFs, indices, forex, and commodities, you may want to take advantage of our 14‑day trial subscription.
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