NEWMONT Corp (NEM): Price Now Near $63.92; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for NEM

At the time of this writing, NEM (Get Ratings)’s price is up $0.34 (0.53%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NEM has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly 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.

NEM’s Technical Outlook on the Daily Chart

At the time of this writing, NEM’s price is up $1.97 (3.19%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, so that price is now turning above it. 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.

NEM

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