Newcore Gold Ltd. Stock Forecast

Red day on Friday for Newcore Gold Ltd. stock after losing 1.67%
(Updated on Jun 28, 2024)

NCAU.V Signals & Forecast

There are few to no technical positive signals at the moment. The Newcore Gold Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.309 and $0.333. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -22.37%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Newcore Gold Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Newcore Gold Ltd. stock

Newcore Gold Ltd. finds support from accumulated volume at $0.290 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0050 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 2.97%.

Newcore Gold Ltd. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $0.279 (-5.58%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 21 which reduces the risk some. There is a sell signal from a pivot top found 66 days ago.)

Trading Expectations (NCAU.V) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Newcore Gold Ltd. to open at $0.297, and during the day (based on 14 day Average True Range), to move between $0.281 and $0.309, which gives a possible trading interval of +/-$0.0137 (+/-4.66%) up or down from last closing price. If Newcore Gold Ltd. takes out the full calculated possible swing range there will be an estimated 9.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.290 (1.69%) than the resistance at $0.310 (5.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Newcore Gold Ltd. stock A Buy?

Newcore Gold Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.994 Hold/Accumulate Unchanged

Predicted Opening Price for Newcore Gold Ltd. of Tuesday, July 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.