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Newmont Mining Crosses Below its 10-day MA (NEM)

By David Diaz

Today, shares of Newmont Mining (NYSE:NEM) have fallen below their 10-day MA of $40.98 on a volume of 2.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Newmont Mining share prices have been bracketed by a low of $15.39 and a high of $41.68 and are now at $39.81, 159% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has risen 1.3%.

SmarTrend recommended that subscribers consider buying shares of Newmont Mining on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.60. Since that recommendation, shares of Newmont Mining have risen 19.6%. We continue to monitor NEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses newmont mining

Ticker(s): NEM