We’re bidding at 50.40 for 400 shares, but NEM might not be so obliging. I’m not going to suggest chasing the stock, but it looks like it’s setting up for a push to 53.28 by way of the pattern shown. The move will become an odds-on shot if and when the stock exceeds the 52.48 midpoint resistance associated with the target. To get long, I’d suggest dropping down to the one-minute chart to find a camouflaged entry trigger. The look-to-the-left peak at 52.48 could serve perfectly for that purpose (see inset). _______ UPDATE (8:02 a.m. EDT): The overnight low so far has been 49.50, so I’ll assume 400 shares bought. Please let me know in the chat room what prices you paid, since the stock traded down on an air pocket. There are two more targets below — at 48.38, where I’ll suggest buying an additional 400 shares; and at 47.76, my maximum downside target. Both targets can be found on the 120-minute chart.
