The Hourly View for NEM
Currently, NEM (Get Ratings)’s price is down $-0.11 (-0.16%) from the hour prior. The hourly chart shows that NEM has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
NEM ranks 24th in terms of today’s price percentage change out of Precious Metals stocks.
NEM’s Technical Outlook on the Daily Chart
At the time of this writing, NEM’s price is down $-0.08 (-0.12%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as NEM has now gone up 4 of the past 5 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. Of note is that the 200 day changed directions on NEM; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. NEWMONT Corp’s price action over the past 90 days can be seen via the chart below.
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