Newmont Bull Flag Points to New All-Time Highs

Newmont stock (ticker NEM) has seen significant gains, rising by over 20% on its weekly candle. This aggressive reversal from the lower boundary of a descending channel that contained the stock since its early-2026 peak suggests a bullish trend.

The potential weekly bull flag has not broken out yet, but if Newmont can clear and hold above $118-$120, the technical picture will change substantially, potentially putting $124-$126 back in play first, followed by a challenge of the $131-$135 all-time-high area.

Patience is key here, as the bulls need to complete the pattern rather than chasing the initial burst higher. The company's latest earnings showed impressive cash flow from high gold prices, with Newmont generating a record $2.2 billion of free cash flow in Q2.