Newmont (NEM) Offering Possible 9.41% Return Over the Next 23 Calendar Days

Newmont's most recent trend suggests a bearish bias. One trading opportunity on Newmont is a Bear Call Spread using a strike $42.00 short call and a strike $47.00 long call offers a potential 9.41% return on risk over the next 23 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $42.00 by expiration. The full premium credit of $0.43 would be kept by the premium seller. The risk of $4.57 would be incurred if the stock rose above the $47.00 long call strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Newmont is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Newmont is bearish.

The RSI indicator is at 36.39 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Newmont

These Miners Cut Production Due To Coronavirus; John Deere Pulls Guidance
Mon, 23 Mar 2020 20:17:26 +0000
John Deere fell after withdrawing guidance amid the coronavirus crisis. Mining stocks Newmont Mining and Freeport-McMoRan cut production.

U.S. Steel Expects Strong Shipments to Aid Flat-Rolled in Q1
Mon, 23 Mar 2020 14:28:02 +0000
U.S. Steel (X) is focused on preserving liquidity and cash amid the current market volatility.

Newmont Withdraws 2020 Guidance and Warns Production Could Be Deferred
Mon, 23 Mar 2020 12:44:00 +0000
Newmont withdraws its 2020 guidance, warning production could deferred to 2021 due to the coronavirus pandemic.

Newmont withdraws 2020 forecast following coronavirus outbreak
Mon, 23 Mar 2020 07:06:57 +0000
Miner Newmont Corp said on Monday it was withdrawing its 2020 outlook as some production could be deferred to 2021 due to the ongoing coronavirus outbreak. Newmont said mines representing 80% of its production outlook for 2020 were currently operating in line with the production targets for the year and added it was not facing any delays in shipping or transportation.

Newmont Implements Additional Controls to Further Protect Workforce, Neighboring Communities
Mon, 23 Mar 2020 04:20:00 +0000
Newmont Implements Additional Controls to Further Protect Workforce, Neighboring Communities

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