Londinia Opportunities Analyses - 05/08/2024 (GMT) NEW GOLD INC. - 1H

- USD (-)

- 15 min delayed data - NYSE MKT Stocks

Type:	Stocks
Ticker:	NGD
ISIN:	CA6445351068

Londinia

Oops, I was wrong about that analysis. My threshold for invalidation has been broken.

U.S. Stocks
Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

11%

17%

My opinion

Bullish above 1.87 USD

My targets

1.95 USD (+3.17%)

2.01 USD (+6.35%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NEW GOLD INC. as long as the price remains well above 1.87 USD. The buyers' bullish objective is set at 1.95 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 2.01 USD. If there is any crossing, the next objective would be the resistance located at 2.21 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

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.

Additional analysis

Quotes

NEW GOLD INC. rating 1.89 USD. The price registered an increase of +1.07% on the session and was between 1.85 USD and 1.91 USD. This implies that the price is at +2.16% from its lowest and at -1.05% from its highest.

1.85

1.91

1.89

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by NEW GOLD INC.:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of this 1H chart of NEW GOLD INC. indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish 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.

In fact, 13 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.71	1.78	1.87	1.89	1.95	2.01	2.21
Change (%)	-9.52%	-5.82%	-1.06%	-	+3.17%	+6.35%	+16.93%
Change	-0.18	-0.11	-0.02	-	+0.06	+0.12	+0.32
Level	Intermediate	Major	Intermediate	-	Intermediate	Intermediate	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.79	1.82	1.84	1.87	1.89	1.92	1.94
Camarilla	1.86	1.86	1.87	1.87	1.88	1.88	1.88
Woodie	1.80	1.82	1.85	1.87	1.90	1.92	1.95
Fibonacci	1.82	1.84	1.85	1.87	1.89	1.90	1.92

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.49	1.61	1.71	1.83	1.93	2.05	2.15
Camarilla	1.75	1.77	1.79	1.81	1.83	1.85	1.87
Woodie	1.48	1.61	1.70	1.83	1.92	2.05	2.14
Fibonacci	1.61	1.69	1.75	1.83	1.91	1.97	2.05

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.34	1.50	1.62	1.78	1.90	2.06	2.18
Camarilla	1.66	1.69	1.71	1.74	1.77	1.79	1.82
Woodie	1.32	1.49	1.60	1.77	1.88	2.05	2.16
Fibonacci	1.50	1.61	1.67	1.78	1.89	1.95	2.06

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):	59.94
MACD (12,26,9):	0.0100
Directional Movement:	14.00
AROON (14):	-42.86
DEMA (21):	1.88
Parabolic SAR (0,02-0,02-0,2):	1.80
Elder Ray (13):	0.02
Super Trend (3,10):	1.79
Zig ZAG (10):	1.91
VORTEX (21):	0.9900
Stochastique (14,3,5):	54.92
TEMA (21):	1.88
Williams %R (14):	-7.14
Chande Momentum Oscillator (20):	0.02
Repulse (5,40,3):	3.1800
ROCnROLL:	1
TRIX (15,9):	0.0600
Courbe Coppock:	1.31

MA7:	1.84
MA20:	1.79
MA50:	1.68
MA100:	1.50
MAexp7:	1.88
MAexp20:	1.87
MAexp50:	1.85
MAexp100:	1.82
Price / MA7:	+2.72%
Price / MA20:	+5.59%
Price / MA50:	+12.50%
Price / MA100:	+26.00%
Price / MAexp7:	+0.53%
Price / MAexp20:	+1.07%
Price / MAexp50:	+2.16%
Price / MAexp100:	+3.85%

Quotes : - 15 min delayed data - Actions NYSE MKT

News

The last news published on NEW GOLD INC. at the time of the generation of this analysis was as follows: