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Newmont Mining (NEM) Crosses Pivot Point Support at $42.82
[January 28, 2013]

Newmont Mining (NEM) Crosses Pivot Point Support at $42.82

Jan 28, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Newmont Mining (NYSE:NEM) have bearishly opened below the pivot of $43.50 today and have reached the first support level of $42.82. Analysts will be watching for a cross of the next downside pivot targets of $42.27 and $41.04.

In the past 52 weeks, shares of Newmont Mining have traded between the current low of $42.55 and a high of $64.43 and are now at $42.81. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.7%.

Newmont Mining (NYSE:NEM) has potential upside of 37.1% based on a current price of $42.81 and analysts' consensus price target of $58.71. The stock should run into initial resistance at its 50-day moving average (MA) of $45.44 and subsequent resistance at its 200-day MA of $48.47.

SmarTrend is monitoring the recent change of momentum in Newmont Mining. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Newmont Mining in search of a potential trend change.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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