Newmont (NEM) Loses -28% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
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Newmont (NEM) has experienced a 28% decline over the past four weeks, leading to an oversold status. This, along with positive revisions in earnings estimates by analysts, suggests a potential trend reversal for the stock.
November 15, 2024 | 4:00 pm
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Newmont's stock has declined by 28% in four weeks, reaching an oversold status. Analysts are revising earnings estimates higher, indicating a potential trend reversal.
The stock's oversold status suggests that the selling pressure may have exhausted, and the positive revisions in earnings estimates by analysts provide a bullish signal. These factors combined indicate a potential upward movement in the stock price.
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