Newmont Corporation (NEM) Recently Broke Out Above the 50-Day Moving Average

Newmont Corporation (NEM) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, NEM broke through the 50-day moving average, which suggests a short-term bullish trend.One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.Over the past four weeks, NEM has gained 10.1%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.Looking at NEM's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 7 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on NEM for more gains in the near future.Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.See "2nd Wave" AI stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks