Newmont Goldcorp Corporation Stock Forecast

Big movements in Newmont Goldcorp Corporation stock price on Thursday moving 11.28% between high and low
(Updated on Apr 25, 2024)

NMM.F Signals & Forecast

The Newmont Goldcorp Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 36.40€ and 33.84€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 45.24%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Newmont Goldcorp Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at 37.66€ and 31.46€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Newmont Goldcorp Corporation finds support just below today's level at 37.66€. If this is broken, then the next support from accumulated volume will be at 31.46€ and 31.14€.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 4.05€ between high and low, or 11.28%. For the last week, the stock has had daily average volatility of 4.10%.

Our recommended stop-loss: 38.47€ (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)

Trading Expectations (NMM.F) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Newmont Goldcorp Corporation to open at 38.59€, and during the day (based on 14 day Average True Range), to move between 38.63€ and 41.25€, which gives a possible trading interval of +/-1.31€ (+/-3.27%) up or down from last closing price. If Newmont Goldcorp Corporation takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 37.66€, some 2.29€ (5.72%) from the current price of 39.94€, our system finds the risk reward attractive.

Is Newmont Goldcorp Corporation stock A Buy?

Newmont Goldcorp Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.156 Strong Buy Candidate Upgraded

Predicted Opening Price for Newmont Goldcorp Corporation of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.