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Advanced TA SearchArchive - 5/10/2024 - Sign In to see current Signals. |
Newmont Mining Corp. (Hldg. Co.) (NEM) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week for the Newmont Mining Corp. (Hldg. Co.) (NEM). During the week, the NEM gained 1.83 points, or 4.50%, and closed at 42.49 on Friday, May 10, 2024. Weekly volume was -29% below average. NEM is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See NEM long-term trend chart] A long-term downtrend had started on January 24, 2023 at 60.08 and reached 29.42 on February 28, 2024. NEM lost 30.66 points, or 51.03%, in 57 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (26.09) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. NEM may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See NEM medium-term trend chart] A medium-term uptrend had started on February 28, 2024 at 29.42 and reached 43.91 on April 25, 2024. NEM gained -14.49 points, or -49.25%, in 8 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (42.15) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend. Weekly Technical Indicators: [See NEM weekly technical indicators chart] Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is above its signal line since March 28, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help. Short-term trend: [See NEM short-term trend chart] A short-term uptrend had started on May 2, 2024 at 40.32 and reached 43.75 on May 10, 2024. NEM gained -3.43 points, or -8.51%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level. Daily Technical Indicators: [See NEM daily technical indicators chart] Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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