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, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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70.23
When analyzing the support we can see 5 important areas.
- A support zone ranging from 99.81 to 102.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @91.18 from a trend line in the daily time frame.
- Support @88.50 from a trend line in the daily time frame.
- Support @78.32 from a horizontal line in the daily time frame.
- Support @70.94 from a trend line in the weekly time frame.
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 | 97.21 | POSITIVE | NEM has a high relative strength, it outperformed 97.21% 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) | 65.75 | NEUTRAL | The RSI value for NEM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.22 | POSITIVE | The MACD value suggests NEM has a positive trend. |
| Stochastics (14,3) | 88.51 | OVERBOUGHT | The high Stochastics value suggests NEM may be overbought. |
| Average True Range in percent/ATR (20) | 3.48 | MEDIUM VOLATILITY | The ATR as a percentage value for NEM suggests some volalility. |
| Average Directional Index/ADX (14) | 26.54 | POSITIVE | The high ADX value value for NEM suggests a strong 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 |
|---|---|---|---|
| 109.31 | 97.66 | 11.65 (10.66%) | 9.38% |
| An entry @109.31. This is a Buy Stop order right above the 10 day high. | An exit @97.66. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 11.65 points, which is 10.66%. | When investing 9.38% 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.
108.99
+2.1 (+1.96%)
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 current trend direction of NEWMONT CORP (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 65.7516. This indicates that the stock is currently neutral.
Can you provide the short term momentum for NEWMONT CORP?
The short term momentum for NEWMONT CORP (NEM) is positive.
What is the buy/sell signal for NEM stock?
The buy/sell signal for NEWMONT CORP (NEM) is buy as both the short term and long term trends are positive.