Newmont Rises 3.31% to Near High on Bullish Technicals and Heavy Volume

Newmont (NEM) advanced 3.31% to close at $78.43 on September 10, 2025, extending its two-day gain to 3.54% on above-average volume. This strength follows a consolidation phase and positions the stock near its recent high of $78.78 recorded during the session. Below is a detailed technical analysis based on multiple frameworks.
Candlestick Theory
The September 10 session formed a robust bullish candle, closing near the day’s high of $78.78 after breaking above the September 5 resistance of $77.30. This breakout suggests bullish conviction, with immediate support established at $75.45 (September 9 low) and secondary support near $74.88–$75.42. Resistance is now firm at $78.78, with a sustained close above potentially extending gains.
Moving Average Theory
The 50-day moving average (MA) currently slopes upward near $69.80, while the 100-day and 200-day MAs hover around $61.50 and $54.30 respectively. Price action remains well above all three MAs, confirming a long-term bullish trend structure. The 50-day MA’s position above the longer-term averages reinforces positive momentum, though monitoring for potential crossovers is warranted should volatility increase.
MACD & KDJ Indicators
MACD (12,26,9) shows a bullish configuration, with the MACD line holding above the signal line and both trending in positive territory. Concurrently, KDJ readings have entered overbought conditions (K and D values above 80), suggesting near-term exhaustion risk. While MACD supports continued upside, KDJ divergence implies the possibility of a short-term pullback. This contrast merits vigilance, as sustained overbought levels could precede consolidation.
Bollinger Bands
Price touched the upper Bollinger Band (20-day SMA ± 2 standard deviations) during the September 10 breakout, reflecting strong bullish momentum. Bandwidth expanded notably during this move, signaling increased volatility and directional conviction. A close consistently near the upper band historically precedes extended trends, though reversion to the midline near $75.50 remains plausible if momentum fades.
Volume-Price Relationship
The breakout was validated by a substantial 17.4% volume increase on September 10 (12.29 million shares vs. 10.47 million prior). This surge in participation during the upside move enhances credibility, indicating institutional accumulation. Volume has consistently expanded on up days over the past week, supporting trend sustainability. Conversely, pullbacks have occurred on diminishing volume, underscoring bullish control.
Relative Strength Index (RSI)
The 14-day RSI stands near 68, approaching overbought territory (>70) but not yet triggering a decisive warning. This elevated reading aligns with recent gains and positions the stock near multi-month highs. While RSI may remain elevated during strong trends, traders should note that failure to breach 70 amid higher prices could signal bearish divergence. Currently, momentum appears intact but extended.
Fibonacci Retracement
Applying Fibonacci levels to the swing from the August 4 low of $63.13 to the September 10 high of $78.78 highlights key retracement zones. The 23.6% level ($75.09) provided support during the September 9 dip to $75.45, creating a confluence floor with prior candlestick support. Deeper retracements to 38.2% ($72.80) and 50% ($70.95) represent logical downside targets should profit-taking accelerate.