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After Yesterday's Rally of 2.38% Shares Could Potentially Pullback

By James Quinn

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $37.83 to a high of $38.61. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $38.60 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 3.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Newmont Mining has traded in a range of $31.70 to $42.04 and is now at $38.54, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

Keywords: rebounders newmont mining

Ticker(s): NEM