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After Yesterday's Rally of 3.34% Shares Could Potentially Pullback

By Shiri Gupta

Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $44.26 to a high of $44.44. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $44.38 on volume of 2.7 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 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.

Over the past year, Newmont Mining has traded in a range of $29.77 to $45.71 and is now at $45.16, 52% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.9%.

Keywords: rebounders newmont mining

Ticker(s): NEM