NCM--Newcrest Mining Ltd

[TGT05]

Sorry, under 14 I mean

[limegreen]

Haven't bought yet. Today's price action looks good, but will scatter some technical tea leaves and draw a chart tomorrow. Assuming BHP's takeover of WMR goes through, I'll be needing to find another resource stock. (Actually, I don't balance my stocks by sector at all, however, not having one seems a bit remiss on the ASX). I'll update this with a chart tomorrow.

[dingdong]

Lacklustre demand, price going nowhere, production problems, cost blowouts, what next for this (and other) overrated gold mines?

Abdab they are going to start trading in camel dung it is more profitable

[limegreen]

I'd promised to post a graph. NCM appears to have been best traded with OnBalanceVolume which would have locked in around 300% profit. The OBV has started trending down with the recent fall, and I think waiting for the OBV to break up would be prudent before investment.

I've also marked what appears to be a bullish divergence with the RSI. The latest SP low conincided with a higher RSI low, which is er bullish. It's not enough to part me with my cash, however.



DISC: Stil watching.

[TGT05]

Cheers lime

[TGT05]

Could someone please explain the recent increase in share price and anything likely to further boost it??

[limegreen]

The OBV volume is rising again. I was feeling a bit shady for a few days and missed the flagged TA entry. The resurgence is on good volume. There is at least one NZ broker pimping it hardcore, arguing that a valuation of $17 is justified without any corporate activity factored in...

[dingdong]

What an overhyped and overrated gold stock.

Sky high PEs and gold price still going nowhere in AUD.

The production problems and cost blowouts which are a distant memory now will come back to bite with the August profit announcement.

[TGT05]

what's known about the possible takeover??