Home > > Stock Picks – Newmont Mining Corp-NEM

Stock Picks – Newmont Mining Corp-NEM

March 11, 2010  |   By Sam Collins, Chief Technical Analyst, InvestorPlace

 

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

NEM Chart 

Chart Legend 

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.

Related Articles:

Going Global for World-Class Profits
Countries such as Brazil, India and China are all forecasting GDP growth that surpasses that of the United States. This special report from CNBC’s Maria Bartiromo shows you the best way to go after world-class profits now. Download your FREE copy here.

This entry was posted in Hot Stocks. Bookmark the permalink. Post a comment or leave a trackback: Trackback URL.

This website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.