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


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


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):

Daily technical analysis candlestick chart for Newmont Mining Corporation (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.

Market Conditions for NEM as at Aug 10, 2018

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