Golden Opportunity (NEM)

he called it over 4 weeks ago
 
   
     
   
 
APRIL 01, 2024
   
PROSPERITY PUB MARKET TALK
Golden Opportunity?

Back on February 29th, Jeffry Turnmire put out NEM as his chart of the week.

But if you had looked at NEM, on that day, you might have recoiled in horror.

 
“He wants me to trade that chart?!”
 
See, NEM had been mostly falling for 2 years since hitting a peak of $86.37 back in April of 2022.

But Jeffry spotted a measured bounce — one of the most powerful patterns he tracks — forming in the NEM chart.

Over the past 4+ weeks, has gone on to surge over 16%.

 
 
 

But if you think you missed out on this one, don’t fret!

With an initial target of $100, this stock still has plenty of room to run.

That said, Jeffry has warned that this pattern with such a high target could take a good long while to get there.

The best way to play it? Jeffry has shares and also $60 calls with a January 2026 expiration.

Warning on the options: Jeffry has said this could take even longer than the expiration to hit the target, so be careful.

— The Prosperity Pub Team
 
The Perfect Gold Trade?

Gold has been surging so far this year…

But one trader says:

Before you place a single trade, you need to know: Buy and hold ISN’T the best way to play it!

Click here to watch the presentation!!
GUY COHEN’S TRADE RADAR
Keep Your Opinions At The Door
 
 
 

Another positive week for the main indices apart from the QQQ which is consolidating, so hardly negative.

Try to keep your opinion on what “should” happen at the door. Just read the signals as you see them, and Trade What You See (TWYC).

For quite some time we have called the market overbought, and with one exception we kept calling it upwards. That was TWYC in action.

March 15th seemed to herald a long-awaited pullback, but the market had other ideas and there was no downward follow-through.

That tells me we’re likely going to need a very strong reversal signal for a meaningful pullback to happen.

 

Follow the money,

— Guy Cohen
   
 

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