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Newmont Mining Rises 4.97% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $30.90 to a high of $32.11. Yesterday, the shares gained 5.0%, which took the trading range above the 3-day high of $30.84 on volume of 5.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Newmont Mining share prices have been bracketed by a low of $29.16 and a high of $42.04 and are now at $32.06, 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.2%.

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: rebounders newmont mining

Ticker(s): NEM