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- 4/19/2024 -
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Newmont Mining Corp. (Hldg. Co.) (NEM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Newmont Mining Corp. (Hldg. Co.) (NEM). During the week, the NEM climbed 0.38 points, or 0.98%, and closed at 39.02 on Friday, April 19, 2024. Weekly volume was -7% 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 price is now at the 31.31% retracement level.
 Medium-term trend: [See NEM medium-term trend chart]
A medium-term uptrend had started on February 28, 2024 at 29.42 and reached 41.30 on April 12, 2024. NEM gained -11.88 points, or -40.38%, in 6 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (38.78) 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 technical indicators are neutral.
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 downtrend had started on April 12, 2024 at 41.30 and reached 37.38 on April 16, 2024. NEM lost 3.92 points, or 9.49%, in 4 days. The price is now at the 41.84% retracement level.
Daily Technical Indicators: [See NEM daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
 Candlestick pattern: [See NEM candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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