Buyers showing patience as they build for a strong move higher

Potential Buy Entry Alert to Watch NCM

 

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $15.81 Billion Market Cap, VWAP 20.548, ASX Ranking 23, 4 Week Av Turnover $47,253,304, Current Turnover (Intraday as at time of alert) $4,524,807, PE Ratio 57.8, Div Yield 1.20%.

Company Overview : Newcrest Mining Limited (NCM) is a gold producer with its portfolio located in Australia, the Pacific region, Asia and Africa. Newcrest has interests in six production provinces in four countries and a portfolio of brown and greenfield exploration projects. Group Mineral Resources are estimated at 140Moz Au, 20Mt Cu and 130Moz Ag, and reserves are 75Moz Au, 11Mt Cu and 74Moz Ag.

Broker Consensus : BUY

 

NCM – Newcrest Mining Limited

NCM has been holding support around 19.00 for nearly to two years now. We see price is contracting as buyers and sellers come to a point of agreement which will only last so long. With longer term charts hovering around oversold levels we are now watching (as we have been for a long time now) for buyers to get more active and start the move higher. Its all about a higher low now for the entry.

 

Stock Code : NCM – Newcrest Mining Limited

Company Website : www.newcrest.com.au

Current Price : 20.71

Status : On watch for buy entry setup