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Newmont Mining Set to Possibly Pullback After Yesterday's Rally of 1.41%

By David Diaz

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $33.42 to a high of $33.99. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $33.64 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $33.78, 12% 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%.

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