NEWMONT CORP (NEM) Stock Technical Analysis
NYSE:NEM • US6516391066
Taking everything into account, NEM scores 10 out of 10 in our technical rating. 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.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that NEM is one of the better performing stocks in the market, outperforming 97% of all stocks. We also observe that the gains produced by NEM over the past year are nicely spread over this period.
- NEM is part of the Metals & Mining industry. There are 157 other stocks in this industry. NEM outperforms 73% of them.
- 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.
- NEM has an average volume of 9633370 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month NEM has a been trading in the 108.05 - 134.88 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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. There is very little resistance above the current price.
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97.29
When analyzing the support we can see 3 important areas.
- A support zone ranging from 112.35 to 112.69. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 108.53 to 110.58. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @98.27 from a trend line in the daily 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 | 97.34 | POSITIVE | NEM has a high relative strength, it outperformed 97.34% 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) | 57.38 | NEUTRAL | The RSI value for NEM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.12 | NEGATIVE | The MACD value suggests NEM has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 60.45 | NEUTRAL | The Stochastics value for NEM is a neutral value. |
| Average True Range in percent/ATR (20) | 5.18 | HIGH VOLATILITY | The high ATR as a percentage value for NEM suggests high volalility. |
| Average Directional Index/ADX (14) | 20.34 | NEUTRAL | The ADX value for NEM suggests a possible start of a new 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 |
|---|---|---|---|
| 127.35 | 112.34 | 15.01 (11.79%) | 8.48% |
| An entry @127.35. This is a Buy Stop order right above the 10 day high. | An exit @112.34. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 15.01 points, which is 11.79%. | For a 1.00% total portfolio risk, you can invest 8.48% 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.
124.69
+2.38 (+1.95%)
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 57.3801. 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.