Newmont Mining (NEM) Breaks Through Resistance at $35.38
Shares of Newmont Mining (NYSE:NEM) have bullishly opened above the pivot of $34.98 today and have reached the first resistance level of $35.38. Should the shares continue to rise, the resistance pivots of $35.72 and $36.46 will be of interest.
Over the past year, Newmont Mininghas traded in a range of $0.00 to $46.07 and are now at $0.00. Over the last five market days, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 2.3%.
Newmont Mining has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $22.61. The stock should run into initial resistance at its 200-day moving average (MA) of $20.97 and subsequent resistance at its 50-day MA of $28.52.
SmarTrend is monitoring the recent change of momentum in Newmont Mining. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Newmont Mining in search of a potential trend change.
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