The Hourly View for NEM
Currently, NEM (Get Ratings)’s price is down $-0.4 (-0.66%) from the hour prior. The hourly chart shows that NEM has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. 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 moment, NEM’s price is up $0.01 (0.02%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as NEM has now gone down 4 of the past 5 days. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. Of note is that the 100 day changed directions on NEM; it is now pointing up. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The chart below shows NEM’s price action over the past 90 days.
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The post NEWMONT Corp (NEM): Price Up $0.01 (0.02)% Over Past Day, Down $-0.4 (-0.66)% Over Past Hour appeared first on ETF Daily News.
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