NEWMONT CORP (NEM) Stock Technical Analysis
NYSE:NEM - New York Stock Exchange, Inc. - US6516391066 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to NEM. Although NEM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
NEM is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
NEM is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
NEM has an average volume of 11990800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that NEM is one of the better performing stocks in the market, outperforming 75% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
NEM is part of the Metals & Mining industry. There are 155 other stocks in this industry, NEM did better than 50% of them.
Besides having an excellent technical rating, NEM also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 60.14. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 59.02, a Stop Loss order could be placed below this zone.
More info and screens
41.59
60.77
When analyzing the support we can see 4 important areas.
- A support zone ranging from 57.68 to 59.02. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 55.00 to 55.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @52.35 from a horizontal line in the daily time frame.
- Support @42.01 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 60.14 to 60.17. 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 | 75.03 | POSITIVE | NEM has a high relative strength, it outperformed 75.03% 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) | 60.29 | NEUTRAL | The RSI value for NEM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.07 | NEGATIVE | The MACD value suggests NEM has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 80.35 | OVERBOUGHT | The high Stochastics value suggests NEM may be overbought. |
| Average True Range in percent/ATR (20) | 2.72 | MEDIUM VOLATILITY | The ATR as a percentage value for NEM suggests some volalility. |
| Average Directional Index/ADX (14) | 27.6 | POSITIVE | The high ADX value value for NEM suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 60.18 | 57.67 | 2.51 (4.17%) | 23.98% |
| An entry @60.18. This is a Buy Stop order right above the resistance zone. | An exit @57.67. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.51 points, which is 4.17%. | When investing 23.98% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
60.13
+0.35 (+0.59%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg0.59%
1 Week0.38%
2 Weeks1.59%
1 Month12.79%
3 Month9.39%
6 Month53.79%
12 Month26.56%
2 Year40.1%
3 Year32.8%
5 Year-13.11%
10 Year250.2%
15 Year7.57%
Volatility
ATR(14)1.64
ATR(20)%2.72%
ATR Inc-41.17%
Range Today0.73
ADR(20)1.42
ADR(20)%2.35%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS75.03
Mansfield1.42
10 Day High60.28
10 Day Low56.46
20 Day High60.31
20 Day Low54.14
52 Week High60.31
52 Week Low36.86
CS1 End59.02
CR1 Start60.14
Volume & EV
DER(3)1.99%
DER(5)0.54%
Volume9.16M
Volume Incr-18.46%
Vol(5)10.16M
Vol(50)11.99M