Technical Analysis: Key Support and Resistance Levels

From a technical standpoint, the weekly chart suggests continued bullish momentum:

• Support remains strong along the white rising trendline, reinforcing the stock's uptrend.

• The price has now broken above the key resistance level of $58.71, a bullish signal that may open the door for a move higher.

• The next major resistance zone is located between $68 and $72, implying a potential 10% to 18% upside from current levels.

• On the downside, a break below $52 would be considered a bearish development and could signal more downside risk.

Momentum Indicators

The MACD (Moving Average Convergence Divergence) indicator is currently positive and rising, signalling continued bullish momentum. However, it is nearing historically overbought levels, which traders should monitor closely.

Bottom Line: With strong EPS growth, positive momentum, and rising commodity prices, Newmont Mining shares could be poised for further gains — but keep an eye on resistance levels and overbought indicators. Tomorrow’s earnings release will be a key catalyst for price action in the short term