Newmont Goldcorp Corporation Stock Forecast

Newmont Goldcorp Corporation stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)

NMM.F Signals & Forecast

The Newmont Goldcorp Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 38.71€. On a fall, the stock will find some support from the long-term average at approximately 35.31€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -3.30%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

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

Newmont Goldcorp Corporation finds support from accumulated volume at 37.66€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.570€ between high and low, or 1.50%. For the last week the stock has had daily average volatility of 1.99%.

Our recommended stop-loss: 37.04€ (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (NMM.F) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Newmont Goldcorp Corporation to open at 38.46€, and during the day (based on 14 day Average True Range), to move between 37.48€ and 39.76€, which gives a possible trading interval of +/-1.14€ (+/-2.96%) up or down from last closing price. If Newmont Goldcorp Corporation takes out the full calculated possible swing range there will be an estimated 5.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 37.66€ (2.50%) than the resistance at 39.71€ (2.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Newmont Goldcorp Corporation stock A Buy?

Newmont Goldcorp Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.196 Hold/Accumulate Downgraded

Predicted Opening Price for Newmont Goldcorp Corporation of Wednesday, May 8, 2024

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