pool adsNewmont Mining $NEM Technical Update
The Newmont Mining (NYSE: NEM) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for NEM, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Weak | Neutral |
| P1 | 29.45 | 27.76 | 30.00 |
| P2 | 30.21 | 30.44 | 34.54 |
| P3 | 30.97 | 33.15 | 39.04 |
Support and Resistance Plot Chart for NEM
Long Term Trading Plans for NEM
September 18, 2018, 12:30 pm ET
The Technical Summary and Trading Plans for NEM help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this NEM Report.
NEM - (Long) Support Plan
Buy over 30.00 target 34.54 stop loss @ 29.74.
The technical summary data tells us to buy NEM near 30.00 with an upside target of 34.54. This data also tells us to set a stop loss @ 29.74 to protect against excessive loss in case the stock begins to move against the trade. 30.00 is the first level of support below 30.6 , and by rule, any test of support is a buy signal. In this case, support 30.00 would be being tested, so a buy signal would exist.
NEM - (Short) Resistance Plan
Short under 34.54 target 30.00 stop loss @ 34.8.
The technical summary data is suggesting a short of NEM as it gets near 34.54 with a downside target of 30.00. We should have a stop loss in place at 34.8 though. 34.54 is the first level of resistance above 30.6, and by rule, any test of resistance is a short signal. In this case, if resistance 34.54 is being tested, so a short signal would exist.
