NEWMONT CORP (NEM) Stock Technical Analysis
NYSE:NEM - New York Stock Exchange, Inc. - US6516391066 - Common Stock - Currency: USD
Taking everything into account, NEM scores 7 out of 10 in our technical rating. 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 in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NEM is lagging the market slightly.
In the last month NEM has a been trading in the 55.37 - 61.17 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
NEM has an average volume of 12470600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, NEM turns out to be only a medium performer in the overall market: it outperformed 69% of all stocks.
NEM is an average performer in the Metals & Mining industry, it outperforms 49% of 154 stocks in the same industry.
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 60.14. Right above this resistance zone may be a good entry point.
More info and screens
41.74
61.44
When analyzing the support we can see 5 important areas.
- Support @57.99 from a trend line in the daily time frame.
- A support zone ranging from 55.55 to 55.96. 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 @50.09 from a horizontal line in the weekly time frame.
- Support @42.16 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 60.14 to 60.83. 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 | 69.17 | NEUTRAL | NEM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of NEM is below a declining 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) | 51.44 | NEUTRAL | The RSI value for NEM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.35 | NEGATIVE | The MACD value suggests NEM has a negative trend. |
| Stochastics (14,3) | 48.97 | NEUTRAL | The Stochastics value for NEM is a neutral value. |
| Average True Range in percent/ATR (20) | 2.99 | MEDIUM VOLATILITY | The ATR as a percentage value for NEM suggests some volalility. |
| Average Directional Index/ADX (14) | 23.96 | NEUTRAL | The ADX value for NEM suggests a possible start of a new 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 |
|---|---|---|---|
| 58.93 | 57.98 | 0.95 (1.62%) | 25.00% |
| An entry @58.93. This is a Buy Stop order right above the 10 day moving average. | An exit @57.98. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.95 points, which is 1.62%. | For a 0.40% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of NEM. Please evaluate whether better entry and exit points can be found.
- 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.
58.19
+0.2 (+0.34%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg0.34%
1 Week-3.23%
2 Weeks-2.85%
1 Month-0.12%
3 Month5.65%
6 Month39.64%
12 Month23.81%
2 Year35.58%
3 Year28.51%
5 Year-15.91%
10 Year238.91%
15 Year4.1%
Volatility
ATR(14)1.74
ATR(20)%2.99%
ATR Inc-31.52%
Range Today0.8
ADR(20)1.56
ADR(20)%2.67%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS69.17
Mansfield0.97
10 Day High61.17
10 Day Low55.37
20 Day High61.17
20 Day Low55.37
52 Week High61.17
52 Week Low36.86
CS1 End57.99
CR1 Start60.14
Volume & EV
DER(3)1.15%
DER(5)0.43%
Volume13.52M
Volume Incr35.24%
Vol(5)16.42M
Vol(50)12.47M