Someone in the chat room remarked that Newmont was tracing out a “triple-top tower of doom,” so I thought I’d have a look myself. He’s right about one thing: the stock has been consolidating for long enough to raise doubts. The potentially good new is that Newmont wouldn’t need a huge rally to be back on top of the world. Specifically, a mere thrust to 50.86– seven percent above yesterday’s settlement price — would refresh the bullish impulse on the daily chart, exceeding a peak along the “wall” of 2008’s summer collapse.
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