NEWMONT CORP (NEM) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:NEM - US6516391066 - Common Stock
We assign a technical rating of 10 out of 10 to NEM. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NEM is showing a nice and steady performance.
NEM has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 90.77. Right above this resistance zone may be a good entry point.
More info and screens
44.70
We found 5 important support areas.
- Support @84.90 from a trend line in the daily time frame.
- Support @80.97 from a horizontal line in the weekly time frame.
- A support zone ranging from 78.32 to 78.63. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @67.88 from a trend line in the weekly time frame.
- Support @45.15 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 90.77 to 91.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NEM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NEM is up. |
| ChartMill Relative Strength | 95.11 | POSITIVE | NEM has a high relative strength, it outperformed 95.11% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NEM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NEM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NEM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.74 | NEUTRAL | The RSI value for NEM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.27 | POSITIVE | The MACD value suggests NEM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 73.69 | NEUTRAL | The Stochastics value for NEM is a neutral value. |
| Average True Range in percent/ATR (20) | 3.7 | MEDIUM VOLATILITY | The ATR as a percentage value for NEM suggests some volalility. |
| Average Directional Index/ADX (14) | 14.54 | NEGATIVE | The low ADX value for NEM suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 91.01 | 84.89 | 6.12 (6.72%) | 14.87% |
| An entry @91.01. This is a Buy Stop order right above the resistance zone. | An exit @84.89. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 6.12 points, which is 6.72%. | For a 1.00% total portfolio risk, you can invest 14.87% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
89.76
-0.96 (-1.06%)
NEWMONT CORP / NEM FAQ
Can you provide the ChartMill technical rating for NEWMONT CORP?
ChartMill assigns a technical rating of 10 / 10 to NEM.
What is the trend direction for NEM stock?
The current trend direction for NEWMONT CORP (NEM) is Bullish.
Can you provide the RSI signal for NEWMONT CORP?
NEWMONT CORP (NEM) has an RSI value of 54.737. This indicates that the stock is currently neutral.
What is the MACD signal for NEM stock?
The MACD indicator for NEWMONT CORP (NEM) has a value of 0.271859, indicating a bearish trend.
Can you provide the buy/sell signal for NEWMONT CORP?
The buy/sell signal for NEWMONT CORP (NEM) is buy as both the short term and long term trends are positive.