The "Chart of the Day" is Newmont Mining (NEM), which showed up on Friday's NYSE What's Hot list with a 1.32 standard deviation rally. Newmont Mining on Friday closed up 2.84% and posted a new 7-month high. TrendSpotter just turned Long on Newmont last Monday at $59.02. In recent news on the stock, Deutsche Bank on Aug 12 added Newmont Mining to its Short-Term Buy List. Stifel Nicolaus on Aug 10 upgraded Newmont to Buy from Hold and raised its target to $76 on the Boddington mine ramp, a strong high dividend yield, and favorable valuation. Newmont on July 29 reported Q2 EPS from continuing operations at $1.06, higher than the consensus of 98 cents. Newmont Mining, with a market cap of $29 billion, is a major gold mining company with mining operations in the U.S., Peru, Indonesia, Mexico, and Uzbekistan.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Exchanges Daily What's Hot". That list highlights stocks with large price movements in terms of 20-day standard deviations, rather than percentage moves. Ranking stock price movement based on standard deviations rather than percentage changes puts all the stocks on a level playing field and spots stocks with unusually large movements relative to their recent performance, as opposed to percentage changes which tend to include stocks that naturally have high volatility. For further information, please click on the link for "What's Hot" help. Once we were on the What's Hot list, we then applied a "Custom View" heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
Barchart's Opinion trading systems are all a "Buy" and Barchart's daily TrendSpotter trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 80% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 33% Sell
- Overall Average 80% Buy
Barchart links for further information:
Quotes and Charts
Trader's Cheat Sheet™
Chart of the Day Archive
View Past Chart of the Day Reports