Newmont: sell signal loses steam in week 9
Newmont edges up 0.6% as the sell signal keeps losing steam
Newmont: sell signal loses steam in week 9
Our view last week
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.
This week's summary
After last week's earnings, Newmont stock closes flat (+0.6%) but with 67% of the week's volume on the buy side, the highest reading in four weeks. The Sell signal is in its 9th week and keeps losing conviction: money flow stays negative but keeps improving, and the ADX keeps sliding. Price is boxed between the 93.5 and 94 areas — our weekly Newmont technical analysis is tracking this stalling mining stock closely.
IQS Phase
52
ordinary
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#123 / 138
US stocks
Trade P&L %
+6.02%
from signal to date, no stop loss
Rank position
ranks 123rd among the 138 sell signals for US stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimeweak phase
Performanceweekly -1.62% · monthly -1.16%
NEM belongs to the materials sector (reference ETF XLB). The sector is classified weak phase according to our weekly reading.
restricted Platinum content