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After Yesterday's Decline of 1.57%, Newmont Mining Offers Investors Better Value

By David Diaz

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $31.50 to a high of $32.27. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $32.04 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 3.3%. We continue to monitor NEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Newmont Mining have traded between a low of $29.06 and a high of $42.04 and are now at $31.74, which is 9% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Keywords: rebounders newmont mining

Ticker(s): NEM