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Newmont Mining Looks Poised to Close Two Open Gaps

Fundamentally and technically speaking, Newmont Mining Corp (NEM) is in a good spot. Facebook is the opposite.
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Newmont Corporation chart courtesy of StockCharts.Com, annotations by Mish

Newmont Corporation chart courtesy of StockCharts.Com, annotations by Mish

Newmont Mining is a large gold mining corporation on the New York Stock Exchange.

It is considered a "major", the other classifications being "junior" and "explorer.

Gaps Fill   

Technically speaking, I am a firm believer that almost all gaps fill. 

Gaps occur as a hole in a chart when a stock opens below the low of the previous day or higher than the high of the previous day and then stays there.

I highlighted 7 gaps in a daily chart of Newmont that have now filled. Two others haven't. 

I expect both of those open gaps to fill sooner rather than later given the current trend in gold. 

Facebook Gaps

Facebook chart courtesy of StockCharts.Com, Annotations by Mish

Facebook chart courtesy of StockCharts.Com, Annotations by Mish

Meta Platforms (FB), formerly Facebook has a pair of open gaps, one of them is a recent monster. 

I expect that will prove to be a "breakaway gap" that will not fill ever. The immediate downside target is the gap between 190 and 200.

Facebook Gap at 30

Facebook chart courtesy of StockCharts.Com, Annotations by Mish

Facebook chart courtesy of StockCharts.Com, Annotations by Mish

Just for grins I went looking for earlier Facebook gaps. There is a breakaway gap in 2013 to consider.

It would not surprise me in the least if that fills. Some gaps take much longer to fill that others. 

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Anyone looking to buy Facebook in late 2013 waiting for that gap to fill was never successful. 

They may get their chance.

Facebook's 25% One-Day Crash Shows Competition in Big Tech is Alive

Facebook is down 25% on a huge revenue miss. A change by Apple caused this.

For more on the fundamentals and technicals of Facebook, please see Facebook's 25% One-Day Crash Shows Competition in Big Tech is Alive

Also see FAANG Roulette Continues With Huge Swings in the Price of Amazon

Fed-Inspired Bubble

Most people have no idea just how huge this Fed-inspired bubble is. 

The upcoming decline will shock even some bears. 

I will post more on this theme in future posts.

This post originated at MishTalk.Com

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