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Watch for Newmont Mining to Potentially Rebound After Falling 4.05% Yesterday

By Amy Schwartz

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $36.07 to a high of $36.51. Yesterday, the shares fell 4.1%, which took the trading range below the 3-day low of $36.63 on volume of 730,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Newmont Mining has traded in a range of $29.77 to $41.23 and is now at $36.46, 22% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.5%.

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