NEWMONT CORP (NEM) Technical Analysis
NYSE:NEM • US6516391066
Current stock price
NEM Technical Rating and Analysis
Overall NEM gets a technical rating of 9 out of 10. 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.
- The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
- Looking at the yearly performance, NEM did better than 90% of all other stocks. On top of that, NEM also shows a nice and consistent pattern of rising prices.
- 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 95.42 - 122.00 range, which is quite wide. It is currently trading near the high of this range.
- NEM has an average volume of 10028900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- NEM is an average performer in the Metals & Mining industry, it outperforms 61% of 163 stocks in the same industry.
NEM Weekly and Daily overview Charts
NEM Setup Rating and Analysis
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 very little resistance above the current price. There is a support zone below the current price at 114.83, a Stop Loss order could be placed below this zone.
More info and screens
NEM Support and Resistance Analysis
99.27
We found 2 important support areas.
- A support zone ranging from 110.92 to 114.83. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 100.27 to 100.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 2 important areas.
- Resistance @119.02 from a trend line in the daily time frame.
- A resistance zone ranging from 130.00 to 131.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
NEM Technical Indicator Signal Analysis
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 | NEUTRAL | NEUTRAL | The short term trend for NEM is neutral. |
| ChartMill Relative Strength | 90.27 | POSITIVE | NEM has a high relative strength, it outperformed 90.27% 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 | MIXED | The current price of NEM is below 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) | 52.07 | NEUTRAL | The RSI value for NEM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.59 | POSITIVE | The MACD value suggests NEM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 64.51 | NEUTRAL | The Stochastics value for NEM is a neutral value. |
| Average True Range in percent/ATR (20) | 3.89 | MEDIUM VOLATILITY | The ATR as a percentage value for NEM suggests some volalility. |
| Average Directional Index/ADX (14) | 16.38 | NEGATIVE | The low ADX value for NEM suggests a weak or negative trend. |
NEM Chart- and CandleStick Pattern Analysis
NEM Example Setup
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 |
|---|---|---|---|
| 119.03 | 111.36 | 7.67 (6.44%) | 15.52% |
| An entry @119.03. This is a Buy Stop order right above the resistance zone. | An exit @111.36. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 7.67 points, which is 6.44%. | When investing 15.52% 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.
NEM Technicals: Chart, Performance Metrics, Trend & Indicators
114.84
-1.66 (-1.42%)
NEWMONT CORP / NEM TA FAQ
Can you provide the ChartMill technical rating for NEWMONT CORP?
ChartMill assigns a technical rating of 9 / 10 to NEM.
What is the current trend direction of NEWMONT CORP (NEM) stock?
The current trend direction for NEWMONT CORP (NEM) is Bullish.
What is the RSI signal for NEM stock?
NEWMONT CORP (NEM) has an RSI value of 52.0683. 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 0.592212, indicating a bearish trend.
What is the short term momentum for NEWMONT CORP (NEM) stock?
The short term momentum for NEWMONT CORP (NEM) is neutral.