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Bullish Moving Average Cross by Newmont Mining (NEM)

By Amy Schwartz

Today, shares of Newmont Mining (NYSE:NEM) have advanced above their 10-day MA of $36.94 on a volume of 1.0 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Newmont Mining share prices have moved between a 52-week high of $42.04 and a 52-week low of $33.89 and are now trading 10% above that low price at $37.18 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Newmont Mining on May 1st, 2018 by issuing a Downtrend alert when the shares were trading at $38.98. Since that call, shares of Newmont Mining have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses newmont mining

Ticker(s): NEM