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Newmont Mining (NEM) Approaches New Upside Target of $33.79

By Nick Russo

Shares of Newmont Mining (NYSE:NEM) have bullishly opened above the pivot of $33.39 today and have reached the first resistance level of $33.55. Should the shares continue to rise, the resistance pivots of $33.79 and $34.19 will be of interest.

Newmont Mining (NYSE:NEM) has potential upside of 17.2% based on a current price of $33.62 and analysts' consensus price target of $39.39. The stock should discover initial support at its 50-day moving average (MA) of $28.52 and subsequent support at its 200-day MA of $20.97.

In the past 52 weeks, Newmont Mining share prices have been bracketed by a low of $30.19 and a high of $46.07 and are now at $33.62, 11% 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: pivot alerts newmont mining

Ticker(s): NEM