NEWMONT CORP (NEM) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:NEM - US6516391066 - Common Stock
Overall NEM gets a technical rating of 10 out of 10. Both in the recent history as in the last year, NEM has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, NEM did better than 97% of all other 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 156 other stocks in this industry. NEM outperforms 70% of them.
- A new 52 week high is currently being made by NEM, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
- In the last month NEM has a been trading in the 97.67 - 119.35 range, which is quite wide. It is currently trading near the high of this range.
- NEM has an average volume of 8967010 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although NEM has an excellent technical rating, it does not offer a high quality setup 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.
More info and screens
71.45
When analyzing the support we can see 4 important areas.
- Support @92.81 from a trend line in the daily time frame.
- Support @89.78 from a trend line in the daily time frame.
- Support @78.32 from a horizontal line in the daily time frame.
- Support @72.17 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 | 97.54 | POSITIVE | NEM has a high relative strength, it outperformed 97.54% 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) | 75.45 | OVERBOUGHT | The high RSI value suggests NEM may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.7 | POSITIVE | The MACD value suggests NEM has a positive trend. |
| Stochastics (14,3) | 93.68 | OVERBOUGHT | The high Stochastics value suggests NEM may be overbought. |
| Average True Range in percent/ATR (20) | 3.12 | MEDIUM VOLATILITY | The ATR as a percentage value for NEM suggests some volalility. |
| Average Directional Index/ADX (14) | 33.04 | POSITIVE | The high ADX value value for NEM suggests a strong trend. |
118.94
+4.82 (+4.22%)
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 75.4475. This indicates that the stock is currently overbought.
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.