Londinia Opportunities Analyses - 05/16/2024 (GMT) NEW GOLD INC. - Daily

- USD (-)

- 15 min delayed data - NYSE MKT Stocks

Type:	Stocks
Ticker:	NGD
ISIN:	CA6445351068

Londinia

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.

U.S. Stocks
Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

61%

17%

22%

My opinion

Bullish above 1.78 USD

My targets

2.01 USD (+6.91%)

2.21 USD (+17.55%)

My analysis

The bullish trend is currently very strong on NEW GOLD INC.. As long as the price remains above the support at 1.78 USD, you could try to benefit from the boom. The first bullish objective is located at 2.01 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2.21 USD as an objective. Crossing it would then enable buyers to target 2.35 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

7.5

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Additional analysis

Quotes

The NEW GOLD INC. price is 1.88 USD. The price has increased by +2.17% since the last closing and was traded between 1.81 USD and 1.90 USD over the period. The price is currently at +3.87% from its lowest and -1.05% from its highest.

1.81

1.90

1.88

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Volumes scanner notes the presence of abnormal volumes:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

A technical analysis in Journalier of this NEW GOLD INC. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 11 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Williams %R indicator is back over -50

Type : Bullish

Timeframe : Daily

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Bullish engulfing lines

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.52	1.78	1.86	1.88	2.01	2.21	2.35
Change (%)	-19.15%	-5.32%	-1.06%	-	+6.91%	+17.55%	+25.00%
Change	-0.36	-0.10	-0.02	-	+0.13	+0.33	+0.47
Level	Major	Major	Major	-	Major	Minor	Intermediate

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	1.72	1.75	1.80	1.83	1.88	1.91	1.96
Camarilla	1.82	1.83	1.83	1.84	1.85	1.86	1.86
Woodie	1.72	1.76	1.80	1.84	1.88	1.92	1.96
Fibonacci	1.75	1.78	1.80	1.83	1.86	1.88	1.91

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.69	1.76	1.86	1.93	2.03	2.10	2.20
Camarilla	1.90	1.92	1.93	1.95	1.97	1.98	2.00
Woodie	1.70	1.77	1.87	1.94	2.04	2.11	2.21
Fibonacci	1.76	1.83	1.87	1.93	2.00	2.04	2.10

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 technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	57.25
MACD (12,26,9):	0.0500
Directional Movement:	5.89
AROON (14):	57.14
DEMA (21):	1.90
Parabolic SAR (0,02-0,02-0,2):	2.00
Elder Ray (13):	0.01
Super Trend (3,10):	1.69
Zig ZAG (10):	1.89
VORTEX (21):	0.9900
Stochastique (14,3,5):	44.49
TEMA (21):	1.88
Williams %R (14):	-44.64
Chande Momentum Oscillator (20):	0.15
Repulse (5,40,3):	3.8100
ROCnROLL:	1
TRIX (15,9):	0.4000
Courbe Coppock:	11.44

MA7:	1.89
MA20:	1.83
MA50:	1.75
MA100:	1.52
MAexp7:	1.87
MAexp20:	1.83
MAexp50:	1.72
MAexp100:	1.58
Price / MA7:	-0.53%
Price / MA20:	+2.73%
Price / MA50:	+7.43%
Price / MA100:	+23.68%
Price / MAexp7:	+0.53%
Price / MAexp20:	+2.73%
Price / MAexp50:	+9.30%
Price / MAexp100:	+18.99%

Quotes : - 15 min delayed data - Actions NYSE MKT

News

Don't forget to follow the news on NEW GOLD INC.. At the time of publication of this analysis, the latest news was as follows: