NEM closes higher for the 3rd day in a row

Newmont Mining Corp. (Hldg. Co.) (NEM) Technical Analysis Report for Sep 14, 2018

Highlights

NEM closes higher for the 3rd day in a row
NEM rises to highest close since August 31st
NEM closes within previous day's range

TQ Sentiment

Report Sentiment: 16% Bullish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, NEM ended the week 0.83% higher at 30.38 after gaining $0.16 (0.53%) today. Today's closing price of 30.38 marks the highest close since August 31st. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.

Daily chart for NEM

Volatility

Friday's trading range was $0.66 (2.19%), that's slightly above last trading month's daily average range of $0.64. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 30.00.

Trend

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

Order Flow

Buying might speed up should prices move above the nearby swing high at 30.90 where further buy stops could get triggered.

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 Rate Exit Day Events
4 Consecutive Higher Closes TQ Pro Members Only
High close to previous High TQ Pro Members Only
High close to previous two Highs TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Newmont Mining Corp. (Hldg. Co.) traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

AA 10 day candlestick chart for AA 42.83 0.04 (0.09%)
ALB 10 day candlestick chart for ALB 102.45 1.55 (1.54%)
APD 10 day candlestick chart for APD 168.75 0.14 (0.08%)
ASH 10 day candlestick chart for ASH 84.70 0.10 (0.12%)
AWI 10 day candlestick chart for AWI 71.20 -0.85 (-1.18%)
AXTA 10 day candlestick chart for AXTA 29.33 0.10 (0.34%)
CBT 10 day candlestick chart for CBT 62.62 -0.34 (-0.54%)
CC 10 day candlestick chart for CC 40.32 -0.03 (-0.07%)
CE 10 day candlestick chart for CE 113.39 0.22 (0.19%)
CEIX 10 day candlestick chart for CEIX 41.66 0.28 (0.68%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!