Stock Picks – Newmont Mining Corp-NEM

 

Newmont Mining Corp. (NEM) – This mining company is one of the world’s largest gold producers.  

 

 

NEM bounced from just under its bullish support line in January, and then had a two-week consolidation starting in late February.

That consolidation took the form of a bullish flag, from which prices broke higher again yesterday. 

Accompanying the positive price action, the stochastic issued a buy signal. 

The trading target for NEM is $56. S&P rates the stock a “four-star buy” with a 12-month price objective of $61.

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