US stocks · sell signal in week 7
Newmont climbs 3.9%: the double bottom near 90 holds as the ADX keeps fading
US stocks · sell signal in week 7
Our view last week
Newmont shares see sellers retake control: 90% of trading on the sell side and a 5.9% weekly drop, with money flow turning sharply negative and the ADX still fading, a fifth straight week of a trend losing its grip. On the daily chart, though, a double bottom holds in the 90 area, with an 11% intermediate rebound. The short, under management for 6 weeks, is now up more than 10%.
This week's summary
Newmont rebounds 3.9% after last week's drop and holds the double bottom near 90, with an 11% intermediate bounce. Volume rebalances — 52% on the buy side versus 90% in sell orders a week ago — and money flow stays negative but eases. The ADX keeps declining for a sixth straight week: the downtrend is losing conviction. Earnings land this very week.
IQS Phase
64
ordinary
Signal Strength
24
decline losing steam
Sizing
MINIMUM
Ranking
#100 / 141
US stocks
Trade P&L %
+6.54%
from signal to today
Rank position
ranks 100th among the 141 sell signals for US stocks in our ranking, with a signal strength of 24 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimein positive regime
Performanceweekly +1.44% · monthly +0.20%
NEM belongs to the materials sector (reference ETF XLB). The sector is classified in positive regime according to our weekly reading.
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