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Uptrend ExhaustionArchive
- 1/3/2025 -
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Newmont Mining Corp. (Hldg. Co.) (NEM) Technical Analysis
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| Summary:
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| | It was a first positive week after 5 consecutive negative weeks for the Newmont Mining Corp. (Hldg. Co.) (NEM). During the week, the NEM climbed 0.27 points, or 0.71%, and closed at 38.11 on Friday, January 3, 2025. It was the best weekly gain since November 22, 2024. Weekly volume was -21% below average.
NEM is a member of Materials Sector. Materials is the most oversold sector. NEM is a member of Gold Industry. Gold is the second 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 uptrend had started on February 28, 2024 at 29.42 and reached 58.72 on October 22, 2024. NEM gained -29.30 points, or -99.59%, in 33 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (59.10) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a long-term trend.
 Medium-term trend: [See NEM medium-term trend chart]
A medium-term downtrend had started on October 22, 2024 at 58.72 and reached 36.86 on December 30, 2024. NEM lost 21.86 points, or 37.23%, in 9 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 35.90 and resistance is at 39.08. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See NEM weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 25, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 December 30, 2024 at 36.86 and reached 38.85 on January 2, 2025. NEM gained -1.99 points, or -5.40%, in 3 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 technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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