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Newmont Mining Set to Possibly Rebound After Yesterday's Selloff of 3.93%

By Amy Schwartz

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $34.75 to a high of $35.01. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $35.60 on volume of 5.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, shares of Newmont Mining have traded between a low of $29.06 and a high of $41.96 and are now at $34.85, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Keywords: rebounders newmont mining

Ticker(s): NEM