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Newmont Mining Falls 1.98% on Heavy Volume: Watch For Potential Rebound
Feb 27, 2013 (SmarTrend(R) News Watch via COMTEX) --
Newmont Mining (NYSE:NEM) traded in a range yesterday that spanned from a low of $40.58 to a high of $41.25. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $40.73 on volume of 8.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
In the past 52 weeks, shares of Newmont Mining have traded between a low of $40.44 and a high of $62.60 and are now at $40.62, which is 0% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.
SmarTrend recommended that its subscribers protect gains by selling shares of Newmont Mining on January 25th, 2013 by issuing a Downtrend alert when the shares were trading at $43.58. Since that call, shares of Newmont Mining have fallen 4.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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