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Archive - 3/15/2024 - 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 the negative week for the Newmont Mining Corp. (Hldg. Co.) (NEM). During the week, the NEM gave back -0.03 points, or -0.09%, and closed at 33.88 on Friday, March 15, 2024. Weekly volume was 61% above average. NEM is a member of Materials Sector. Materials is the most overbought sector. NEM is a member of Gold Industry. Gold is the sixth most oversold industry. 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 14.55% retracement level. Medium-term trend: [See NEM medium-term trend chart] A medium-term downtrend had started on December 22, 2023 at 42.81 and reached 29.42 on February 28, 2024. NEM lost 13.39 points, or 31.28%, in 9 weeks. The price is now at the 33.31% retracement level. Weekly Technical Indicators: [See NEM weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 link to access Lane's Stochastic help. The weekly MACD line is below its signal line since January 19, 2024. This is an indication that the medium-term trend is down. 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 February 28, 2024 at 29.42 and reached 35.46 on March 11, 2024. NEM gained -6.04 points, or -20.53%, in 12 days. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend support (35.09) 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 short-term trend. Daily Technical Indicators: [See NEM daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. The daily MACD line is above its signal line since February 29, 2024. This is an indication that the short-term trend is up.
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Daily Oscillators |
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Weekly Oscillators |
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Trading
Signals |
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Sector and
Industry |
Description |
Name |
Rank |
Sector |
Materials |
10 |
Industry |
Gold |
6 |
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Daily Trend |
Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
High |
34.63 |
High Date |
03/13/2024 |
Low |
33.37 |
Low Date |
03/15/2024 |
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Weekly Trend |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Symmetric Triangle |
Status |
Test Support |
Resistance |
33.80 |
Support |
35.09 |
Low |
29.42 |
Low Date |
02/28/2024 |
High |
35.46 |
High Date |
03/11/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
42.81 |
High Date |
12/22/2023 |
Low |
29.42 |
Low Date |
02/28/2024 |
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Quarterly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
60.08 |
High Date |
01/24/2023 |
Low |
29.42 |
Low Date |
02/28/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
86.37 |
High Date |
04/18/2022 |
Low |
29.42 |
Low Date |
02/28/2024 |
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