Newcrest – Buy

Newcrest Mining remains under Algo Engine buy conditions. NCM has reported an in-line 1QFY21 result with group production of 503koz.

The company expects an improved production performance in 2Q.

We suggest investors accumulate NCM above the $29 support level.

Since writing the above post NCM has bounced off the $29 support level and is now trading at $30.64. The momentum indicators continue to trend higher.