Ominous Death Cross Forms On Newmont's Chart
Portfolio Pulse from Benzinga Insights
A death cross has formed on Newmont's (NYSE:NEM) chart, indicating a potential bearish trend for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, signaling a possible change in the long-term trend.
June 15, 2023 | 2:53 pm
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Newmont's chart shows a death cross, indicating a potential bearish trend for the stock. This may lead traders to consider short positions.
A death cross is a technical indicator that occurs when a stock's 50-day moving average crosses below its 200-day moving average. This is generally considered a bearish signal, suggesting that the stock's long-term trend may be changing. In the case of Newmont, the formation of a death cross could lead to a decline in the stock price, prompting traders to consider short positions.
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