NEM closes lower for the 2nd day in a row
Newmont Mining Corporation (NEM) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (NEM as at Aug 10, 2018):
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.