NEW GOLD INC. - 1H - Technical analysis published on 02/23/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 1.14 USD
My targets
1.09 USD (-3.54%)
1.02 USD (-9.73%)
My analysis
NEW GOLD INC. is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.14 USD. The next support located at 1.09 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.02 USD. Below this support, sellers could then target 0.97 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.8
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NEW GOLD INC. rating is 1.13 USD. The price has increased by +2.73% since the last closing with the lowest point at 1.11 USD and the highest point at 1.13 USD. The deviation from the price is +1.80% for the low point and 0% for the high point.1.11
1.13
1.13
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NEW GOLD INC. in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 4 are bullish, 6 are neutral and 8 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.97 | 1.02 | 1.09 | 1.13 | 1.14 | 1.23 | 1.30 |
| Change (%) | -14.16% | -9.73% | -3.54% | - | +0.88% | +8.85% | +15.04% |
| Change | -0.16 | -0.11 | -0.04 | - | +0.01 | +0.10 | +0.17 |
| Level | Minor | Major | Intermediate | - | Intermediate | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.03 | 1.07 | 1.08 | 1.12 | 1.13 | 1.17 | 1.18 |
| Camarilla | 1.09 | 1.09 | 1.10 | 1.10 | 1.11 | 1.11 | 1.11 |
| Woodie | 1.03 | 1.06 | 1.08 | 1.11 | 1.13 | 1.16 | 1.18 |
| Fibonacci | 1.07 | 1.09 | 1.10 | 1.12 | 1.14 | 1.15 | 1.17 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.90 | 1.00 | 1.08 | 1.18 | 1.26 | 1.36 | 1.44 |
| Camarilla | 1.12 | 1.14 | 1.15 | 1.17 | 1.19 | 1.20 | 1.22 |
| Woodie | 0.90 | 1.00 | 1.08 | 1.18 | 1.26 | 1.36 | 1.44 |
| Fibonacci | 1.00 | 1.07 | 1.11 | 1.18 | 1.25 | 1.29 | 1.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.77 | 0.97 | 1.09 | 1.29 | 1.41 | 1.61 | 1.73 |
| Camarilla | 1.13 | 1.16 | 1.19 | 1.22 | 1.25 | 1.28 | 1.31 |
| Woodie | 0.74 | 0.95 | 1.06 | 1.27 | 1.38 | 1.59 | 1.70 |
| Fibonacci | 0.97 | 1.09 | 1.16 | 1.29 | 1.41 | 1.48 | 1.61 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.11 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | -3.71 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 1.12 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.17 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 1.17 | |
| Zig ZAG (10): | 1.12 | |
| VORTEX (21): | 0.9200 | |
| Stochastique (14,3,5): | 15.61 | |
| TEMA (21): | 1.12 | |
| Williams %R (14): | -78.57 | |
| Chande Momentum Oscillator (20): | -0.03 | |
| Repulse (5,40,3): | -1.0500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1300 | |
| Courbe Coppock: | 4.79 |
| MA7: | 1.15 | |
| MA20: | 1.21 | |
| MA50: | 1.32 | |
| MA100: | 1.26 | |
| MAexp7: | 1.13 | |
| MAexp20: | 1.14 | |
| MAexp50: | 1.16 | |
| MAexp100: | 1.19 | |
| Price / MA7: | -1.74% | |
| Price / MA20: | -6.61% | |
| Price / MA50: | -14.39% | |
| Price / MA100: | -10.32% | |
| Price / MAexp7: | -0.88% | |
| Price / MAexp20: | -1.75% | |
| Price / MAexp50: | -3.45% | |
| Price / MAexp100: | -5.88% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
The latest news and videos published on NEW GOLD INC. at the time of the analysis were as follows:
- New Gold Inc. Announces C$150 Million Bought Deal Financing
- Investor Network: New Gold, Inc. to Host Earnings Call
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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