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Newmont Mining Rises 3.03% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $35.25 to a high of $36.13. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $35.65 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

In the past 52 weeks, shares of Newmont Mining have traded between a low of $15.39 and a high of $46.07 and are now at $36.04, which is 134% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has risen 1.3%.

Keywords: rebounders newmont mining

Ticker(s): NEM