Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Market Outlook : May 23rd, 0214

Market Overview:-

US equity market was able to sustain at higher levels on Thursday with positive market sentiments of investors. US Existing home sales increased in April as bigger supply of properties lured buyers and raised prospects of strong buying season. US Unemployment data was however weaker with higher number of employee. New Home Sales data is due on Friday which would be the key to direct the market in future.

BULLS OF THE STREET (NYSE)

Name

Close Price ( $ )

Change %

Concord Medical Services Holdings ADS

06.71

15.49

Brady CI A

27.81

14.63

Bonanza Creek Energy

52.12

13.65

Puma Biotechnology

73.11

11.77

Paycom Software

15.38

09.86

BEARS OF THE STREET (NYSE)

Name

Close Price ( $ )

Change %

ITT Educational Services

20.50

20.54

China Ming Yang Wind Power Group ADS

03.08

15.15

58.com ADS

38.29

08.24

Jumei International Holding ADS

22.54

07.43

Millennial Media

03.95

06.84

NEWMONT MINING CORP

RecommendationSell below $23.27

Target $20.75

STOCK SUMMARY:-

Newmont Mining Corp is overall in consolidate trend and is sustaining at lower levels on chart.

Traders can sell the stock below the level of $23.27. which is a near term support level for the

stock, and if it manages to breach this level further bearsh movement is expected in this stock to

test the levels of $20.75.

CHART FORMATION

Stock is in bearish trend for near term and price is sustaining below support trend line with a

formation of double top pattern on daily intraday chart. Near term breach of support level of

$23.27 is expected, which would result into bearish sentiment in the stock to test the levels of

$20.75.

INDICATORS:-

RSI is trading with negative bias and in MACD signal line is sustaining below MACD line which

is indicating the bearish sentiment in the stock.