NEM’s Hot Streak: Up 4 of the Past 5 Days

The Hourly View for NEM

  • At the time of this writing, XEM’s price is down $0 (-0.57%) from the hour prior.
  • The hourly chart shows that NEM has seen 2 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NEM’s hourly price chart is shown below.

XEM

The Daily View for NEM

  • At the time of this writing, XEM’s price is up $0 (0.57%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as NEM has now gone up 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence between XEM’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XEM’s price.

Below is a daily price chart of NEM.

XEM

Featured NEM Idea From TradingView

Below is a trading comment entitled XOM Downside to the low to mid 70s you may find interesting:

Between ‘the fed’ hurting demand and the continued signals of economic weakness we now need to focus our attention on shorting energy stocks – See Targets 1,2,3. Soon enough, we will begin to see unemployment numbers surge and it will begin to feed on itself …

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