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After Yesterday's Rally of 2.45% Shares Could Potentially Pullback

By Amy Schwartz

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $34.06 to a high of $34.94. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $34.66 on volume of 3.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Newmont Mining have traded between a low of $15.39 and a high of $46.07 and are now at $34.75, which is 126% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 2.3%.

SmarTrend is tracking the current trend status for Newmont Mining and will alert subscribers who have NEM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders newmont mining

Ticker(s): NEM