Newmont Basing For Reversal
Posted: April 23, 2014 Filed under: 200 Moving Average, Basing pattern, H&S Bottom | Tags: $NEM, Newmont Mining
Newmont mining (NEM) has been in the news lately on M&A rumors. Looking at the stock reveals a 5 months Head & Shoulders bottom. Interesting the neckline intersects with NEM 200MA. A breakout should be significant with an implied target of $31.80. Note that NEM reports earnings tomorrow Apr 24th.
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