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Newmont Mining Falls 1.57% on Heavy Volume: Watch For Potential Rebound

By James Quinn

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, Newmont Mining share prices have been bracketed by a low of $29.06 and a high of $42.04 and are now at $31.74, 9% above that low price. The 200-day and 50-day moving averages have moved 0.45% lower and 0.11% higher over the past week, respectively.

Keywords: rebounders newmont mining

Ticker(s): NEM