Newcore Gold Ltd. Stock Forecast
Newcore Gold Ltd. stock price ended at $0.226 on Friday, after gaining 4.60%.
(Updated on May 17, 2024)
The Newcore Gold Ltd. stock price gained 4.60% on the last trading day (Friday, 17th May 2024), rising from $0.217 to $0.226. During the last trading day the stock fluctuated 4.72% from a day low at $0.218 to a day high of $0.229. The price has been going up and down for this period, and there has been a -3.63% loss for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 4 thousand shares were bought and sold for approximately $993.27 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 103.40% during the next 3 months and, with a 90% probability hold a price between $0.363 and $0.542 at the end of this 3-month period.
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NCAUF Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -8.20%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Newcore Gold Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.220 and $0.180. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Newcore Gold Ltd. stock
Newcore Gold Ltd. finds support from accumulated volume at $0.224 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0103 between high and low, or 4.72%. For the last week the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: $0.214 (-5.36%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (NCAUF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Newcore Gold Ltd. to open at $0.224, and during the day (based on 14 day Average True Range), to move between $0.215 and $0.237, which gives a possible trading interval of +/-$0.0110 (+/-4.85%) up or down from last closing price. If Newcore Gold Ltd. takes out the full calculated possible swing range there will be an estimated 9.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.224 (1.31%) than the resistance at $0.233 (2.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Newcore Gold Ltd. will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Newcore Gold Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.17% in the first trading day after earnings release.
Is Newcore Gold Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Newcore Gold Ltd. stock to perform well in the short-term.
Current score: 1.624 Buy Candidate Unchanged
Predicted Opening Price for Newcore Gold Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.224 ( 0.89%) | $0.226 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCAUF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.235 | 3.66 % | |
| R2 | 0.231 | 1.92 % | ||
| R1 | 0.228 | 0.85 % | ||
| Current price: | 0.226 | |||
| Support | S1 | 0.221 | -2.62 % | |
| S2 | 0.218 | -3.70 % | ||
| S3 | 0.214 | -5.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.235 | 3.77 % | |
| R2 | 0.234 | 3.33 % | ||
| R1 | 0.233 | 2.67 % | ||
| Current price | 0.226 | |||
| Support | S1 | 0.224 | -1.31% | |
| S2 | 0.222 | -1.97% | ||
| S3 | 0.213 | -6.01% |
FAQ
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