NEM Forms 28-Week Cup Base, Stage 1→2 Advance Setup near $131.38 Pivot

Posted on by Eben@CANSLIM Research
NEM daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY — CANSLIM Research

Newmont (NEM) is basing in a 28-week Cup Base pattern, with the stock closing at $125.08 and price above its flattening 30-week moving average, signaling a transition from Stage 1 to early Stage 2. The technical template passes 7 of 8 checks, with the 50-day average lagging the longer-term averages as the only miss, while the relative strength line sits near a three-month high. Overall sentiment is constructive but awaiting confirmation, as the cup’s 32.1% depth and lack of a handle leave the $131.38 pivot as the key breakout level to watch.

As of 2026-08-19 · Close $125.08

Stage 1→2 (Basing / Early Advance) — 30-week MA flattening with price above it — basing ahead of a potential advance (30-week MA 6-week slope: -0.28%)

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