ALGO Buy Signal For Newcrest Mining

Our ALGO engine triggered a buy signal on NCM into yesterday’s ASX close at $20.04.

This “higher low” price pattern is referenced to the intra-day low of $19.33 on March 21st.

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NCM has now been added to our ASX Top 50 Model portfolio.

With Spot Gold prices pressing against key support near $1210.00, we would look to enter long for half an allocation now, and be prepared to add at lower levels.

Newcrest mining

Author: Todd

Todd has worked in the financial industry for 20 years. During this time, his primary focus has been in the Foreign Exchange, Global Equities and Fixed Income areas. Todd has also served as a Judicial Advocate in several tax cases in the US Federal Court.