In this daily bar chart of NEM, below, we can see how the price of NEM bottomed out in September-October and began an uptrend. Prices closed above the 50-day moving average line in October and retested the rising line in November.
There was a brief shake out in January but NEM is back above the 50-day now. Also, NEM has closed above the bottoming 200-day line. The 50-day line is quickly moving up and could soon cross above the 200-day line for a bullish golden cross of these indicators.
The volume histogram shows an increase from August and the daily On-Balance-Volume (OBV) line has broken out to an impressive new high.
The Moving Average Convergence Divergence (MACD) has joined the bullish movement with its crossing above the zero line.
In this weekly bar chart of NEM, below, we can see that prices have not moved very far in the last three years.
NEM is above the declining 40-week moving average line.
The weekly OBV line made its low with prices and is inching higher.
The weekly MACD oscillator is close to crossing the zero line for a buy signal on this longer time frame.
In this Point and Figure chart of NEM, below, we can see an upside breakout at $35.31 and a potential upside price target of $45.90 which will put prices at their 2018 highs.
Bottom line strategy: The charts of NEM are bullish. Imagine how strong they might look if the U.S. dollar turned lower. Aggressive traders could go long here and risk a close below $34.