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Wednesday, April 4, 2012

Basic Material Stocks Moving Actively Today (MON) (NEM) (ABX) (GG) (FCX)

Monsanto Company (NYSE: MON): fell by 1.15% or $-0.9401/share to $80.86. In the past year, the shares have traded as low as $58.89 and as high as $83.95. On average, 3800180 shares of MON exchange hands on a given day and today's volume is recorded at 7514620. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $79.16 area where the stock will likely see buying pressure.

Newmont Mining Corp. (NYSE: NEM): fell by 3.75% or $-1.8901/share to $48.45. In the past year, the shares have traded as low as $49.84 and as high as $72.42. On average, 6806650 shares of NEM exchange hands on a given day and today's volume is recorded at 11601898. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $56.49 area but be careful because the stock may face selling pressure at this level.

Barrick Gold Corp. (USA) (NYSE: ABX): fell by 4.15% or $-1.78/share to $41.16. In the past year, the shares have traded as low as $42.20 and as high as $55.95. On average, 7575420 shares of ABX exchange hands on a given day and today's volume is recorded at 12533353. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $45.80 area but be careful because the stock may face selling pressure at this level.

Goldcorp Inc. (USA) (NYSE: GG): fell by 5.85% or $-2.55/share to $41.04. In the past year, the shares have traded as low as $41.91 and as high as $56.31. On average, 5171950 shares of GG exchange hands on a given day and today's volume is recorded at 11364072. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $46.38 area but be careful because the stock may face selling pressure at this level.

Freeport-McMoRan Copper (NYSE: FCX): fell by 1.40% or $-0.541/share to $38.04. In the past year, the shares have traded as low as $28.85 and as high as $58.75. On average, 18714600 shares of FCX exchange hands on a given day and today's volume is recorded at 10906331. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $39.38 area where the stock may encounter resistance.