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

By Nick Russo

Newmont Mining (NYSE:NEM) crossed under its 10-day moving average of $33.89 on a volume of 525K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Newmont Mining share prices have moved between a 52-week high of $41.98 and a 52-week low of $29.06 and are now trading 16% above that low price at $33.71 per share. The 200-day and 50-day moving averages have moved 0.24% lower and 0.14% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Newmont Mining on September 19th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.39. Since that recommendation, shares of Newmont Mining have risen 9.6%. 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