NEM closes lower for the 2nd day in a row


Newmont Mining Corp. (Hldg. Co.) (NEM) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
NEM closes lower for the 2nd day in a row
NEM breaks below previous session low
NEM falls to lowest close since December 12, 2017
NEM ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, NEM ended the week -2.36% lower at 35.60 after losing $0.11 (-0.31%) today on low volume. Today's closing price of 35.60 marks the lowest close since December 12, 2017. Closing below Thursday's low at 35.68, the stock confirms its breakout through the previous session's low having traded $0.29 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for NEM
Volatility

Friday's trading range was $0.57 (1.6%), that's slightly below last trading month's daily average range of $0.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Newmont Mining Corp. (Hldg. Co.)
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
52 Week Low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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