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Newmont Mining (NEM) Breaks Through Resistance at $38.91

By David Diaz

Newmont Mining (NYSE:NEM) has opened bullishly above the pivot of $38.57 today and has reached the first level of resistance at $38.91. Investors may be interested in a cross of the next upside pivot targets of $39.17 and $39.77.

Newmont Mining has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $39.39. Newmont Mining shares should first meet resistance at the 200-day moving average (MA) of $20.97 and find additional resistance at the 50-day MA of $28.52.

In the past 52 weeks, shares of Newmont Mining have traded between the current low of $0.00 and a high of $46.07 and are now at $0.00. 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 recommended that subscribers consider buying shares of Newmont Mining on July 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.24. Since that recommendation, shares of Newmont Mining have risen 12.9%. We continue to monitor NEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts newmont mining

Ticker(s): NEM