April 6, 2022, 3:29 pm EDT
2022 Actual Trade: NEM +39% Profits
We like precious metals, gold, and silver, over cryptocurrency because they are tangible and valuable with a physical appearance of shining color. Most importantly, they are one of the best weapons to fight inflation and uncertainties. This is what happened to the precious metal (NEM) as we introduced multiple times in December 2021 and January 2022:
- 12/16/2021 Stock Picks: Emerging Precious Metal (NEM)
- 01/04/2022 Stocks Picks: Gold Turning Around (NEM)
Technically, we can see a solid rectangle pattern from September 2021 to December 2021. It simply accumulated its internal power and waited for the moment to shine. This is what we believed last December.
Finally, 12/16-12/17 was the time to get in as NEM tried to get out of the upper boundary at 60. Please note that 60 became a support level once it flipped. It was tested a couple of times on 60. After that, it was a straight-up rally for the next 3-4 months.
We took the +39% profits for now and may look for another opportunity to get back in since inflation and geopolitical uncertainties are there to stay.