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After Yesterday's Rally of 3.03% Shares Could Potentially Pullback

By Amy Schwartz

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $44.57 to a high of $45.71. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $44.24 on volume of 4.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Newmont Mining share prices have moved between a 52-week high of $45.71 and a 52-week low of $15.39 and are now trading 195% above that low price at $45.40 per share. The 200-day and 50-day moving averages have moved 1.31% higher and 2.33% higher over the past week, respectively.

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 27.6%. We continue to monitor NEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders newmont mining

Ticker(s): NEM