NewGold Issuer Limited Stock Forecast
Green day on Friday for NewGold Issuer Limited stock after gaining 0.714%
(Updated on May 31, 2024)
The NewGold Issuer Limited stock price gained 0.714% on the last trading day (Friday, 31st May 2024), rising from $40,327.00 to $40,615.00. During the last trading day the stock fluctuated 1.55% from a day low at $40,556.00 to a day high of $41,186.00. The price has been going up and down for this period, and there has been a 1.07% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 242 thousand more shares were traded than the day before. In total, 310 thousand shares were bought and sold for approximately $12.59 billion.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $40,348.40 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.68% during the next 3 months and, with a 90% probability hold a price between $43,448.55 and $47,726.17 at the end of this 3-month period.
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GLD.JO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 3.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NewGold Issuer Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $40,697.31. On a fall, the stock will find some support from the short-term average at $40,235.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for NewGold Issuer Limited stock
NewGold Issuer Limited finds support from accumulated volume at $40,514.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $630.00 between high and low, or 1.55%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: $38,531.24 (-5.13%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (GLD.JO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect NewGold Issuer Limited to open at $40,785.67, and during the day (based on 14 day Average True Range), to move between $39,964.38 and $41,265.62, which gives a possible trading interval of +/-$650.62 (+/-1.60%) up or down from last closing price. If NewGold Issuer Limited takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $40,641.00 (0.06%) than the support at $40,514.00 (0.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NewGold Issuer Limited stock A Buy?
NewGold Issuer Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.180 Hold/Accumulate Unchanged
Predicted Opening Price for NewGold Issuer Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $40,785.67 ( 0.420%) | $40,615.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLD.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41,415.67 | 1.97 % | |
| R2 | 41,175.01 | 1.38 % | ||
| R1 | 41,026.33 | 1.01 % | ||
| Current price: | 40,615.00 | |||
| Support | S1 | 40,545.01 | -0.172 % | |
| S2 | 40,396.33 | -0.538 % | ||
| S3 | 40,155.67 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41,114.00 | 1.23 % | |
| R2 | 40,994.00 | 0.93 % | ||
| R1 | 40,641.00 | 0.0640 % | ||
| Current price | 40,615.00 | |||
| Support | S1 | 40,514.00 | -0.249% | |
| S2 | 40,220.00 | -0.97% | ||
| S3 | 40,184.00 | -1.06% |
FAQ
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