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NEWMONT MINING
(NEM-NYSE):
Technical Viewpoint: From a low
of $43.11 on Oct 13, 2004 prices
rallied, reaching a
high of $44.08
on Oct 27, 2004. A
decline saw prices pull back, reaching a
low of
$45.06 on Nov 2, 2004.
Another rally saw prices penetrate
resistance, closing 11/5/04
at $49.05. Technicals: MACD Index (MACD): A Buy Alert!
was given on Nov 5, 2004 when the solid line crossed the dotted line to the upside.
Support: Remains at $45.00. Resistance: Is at $49.05.
Point & Figure: Reversed to the upside on Nov 5, 2004. A P&F upside
reversal takes place at $47.50. Summary: Technical indicators have turned bullish. BUY! NEWMONT MINING
(NEM-NYSE) @ $49.13 Stop: Use a protective stop of $47.13.
NEWMONT MINING is currently trading @ $49.05 plus $1.11 on Nov 6, 2004. Price Objective:
$59.50. Risk/Reward: $2.00 VS. $10.37. Today's Risk Reward Ratio: 5:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$59.50
Risk/Reward:
$2.00 VS. $10.37
Risk/Reward Ratio:
5:1
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