NEM slides more than 4% as stock slips below 20-day average and selling persists

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Newmont slides 4.31% today on pressure

Highlights

Newmont will release its third quarter 2026 financial results after the North American market close on October 22, 2026.
Envestnet Asset Management Inc. reduced its holdings in Newmont by 8.2% during the second quarter amid ongoing selling pressure.
Shares of Newmont last traded at $116.18, showing short-term selling pressure with an expected five-day range of $112.19 to $120.18 and mixed technical momentum.

Investor day and stake reduction reinforce ongoing downside sentiment

Newmont announced it will release its third quarter 2026 financial results after North American markets close on October 22, 2026, accompanied by an investor webcast later that day. The event was authorized by Senior Vice President and Corporate Secretary Logan Hennessey. In addition, Envestnet Asset Management Inc. was reported to have reduced its holdings in Newmont by 8.2% during the second quarter, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, highlights the renewed selling pressure as a critical risk factor for Newmont. He notes the 4.31% drop following Envestnet Asset Management’s stake reduction and the violation of the 20-day moving average as clear technical warning signs. The analyst points to mixed oscillators and the BBP of -1.93, emphasizing that short-term weakness outweighs any medium-term bullish setup. He is concerned that institutional outflows and continual volatility may erode investor confidence further. "Unless the price quickly reclaims $120.06, risks of deeper downside remain front and center for me," Kharitonov warns.

Viktoras Karapetjanc, expert at Traders Union, remains constructive on Newmont’s medium- and long-term outlook. He sees the current pullback as temporary, underlined by price stability above both the 50- and 200-day moving averages. The company’s upcoming financial results and resilient technical structure offer scope for renewed bullish momentum. Karapetjanc points to the 62% probability of upward movement as a sign that further growth is likely. "I view this phase as a healthy consolidation within a bullish structure — further upside is on the table after $120.18 is breached," he affirms.

Parshwa Turakhiya, analyst, notes that sentiment remains mixed as Newmont hovers just below its 20-day moving average. He highlights that oversold signals on the CCI and Stochastic RSI could present tactical rebound setups for agile traders. The analyst cautions that a decisive move below $115.5 would pave the way for a deeper slide. "Short-term momentum favors caution, but volatility in this range could generate compelling opportunities if $120.18 is reclaimed," Turakhiya comments.

Mixed momentum signals amid short-term selling and long-term support

Newmont is currently trading below its 20-day moving average at $125.13, but it remains above the 50-day at $115.5 and the 200-day at $111.04. This configuration indicates short-term seller strength, even as the medium- and long-term trend remains bullish. The closest resistance is found at $120.06, with key support at $115.5. Momentum signals are mixed: the MACD points to strong upside potential and the ADX supports a bullish bias. However, with the RSI at 48.2 and the Awesome Oscillator indicating selling momentum, along with the CCI and Stochastic RSI in oversold territory, bearish oscillators are clearly present. The BBP at -1.93 highlights dominant selling, and intraday volatility is 1.57%. Divergence persists between the bearish short-term indicators and the constructive longer-term signals.

Earlier, analysts noted that gold miners like Newmont came under pressure as rising bond yields diminished the appeal of non-yielding assets. With short-term indicators still skewed to the downside, a decisive close above $120.18 would be needed to confirm any reversal, making this a key resistance level to monitor in the days ahead.

Source of Data: NEM Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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