Struggling With Great Stock Picks? Discover StockInvest.us Top Gems!

Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of NGD.TO
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

New Gold Inc. stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 10, 2024)

Buy or Hold candidate since Feb 29, 2024 Gain 60.84% PDF

The New Gold Inc. stock price fell by -1.11% on the last day (Friday, 10th May 2024) from $2.70 to $2.67. During the last trading day the stock fluctuated 3.77% from a day low at $2.65 to a day high of $2.75. The price has risen in 5 of the last 10 days and is up by 7.23% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -542 thousand shares and in total, 746 thousand shares were bought and sold for approximately $1.99 million.

The stock lies in the middle of a 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 67.87% during the next 3 months and, with a 90% probability hold a price between $4.10 and $4.61 at the end of this 3-month period.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

NGD.TO Signals & Forecast

The New Gold Inc. 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 $2.58 and $2.43. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -1.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for New Gold Inc. stock

New Gold Inc. finds support from accumulated volume at $2.61 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 $0.100 between high and low, or 3.77%. For the last week, the stock has had daily average volatility of 3.78%.

Our recommended stop-loss: $2.56 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (NGD.TO) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect New Gold Inc. to open at $2.69, and during the day (based on 14 day Average True Range), to move between $2.55 and $2.79, which gives a possible trading interval of +/-$0.119 (+/-4.47%) up or down from last closing price. If New Gold Inc. takes out the full calculated possible swing range there will be an estimated 8.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.70 (1.12%) than the support at $2.61 (2.25%), 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 New Gold Inc. 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 New Gold Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.687 Buy Candidate Downgraded

Predicted Opening Price for New Gold Inc. of Monday, May 13, 2024

Fair opening price May 13, 2024 Current price
$2.69 ( 0.749%) $2.67

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

Trading levels for NGD.TO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.79 4.49 %
R2 2.75 3.06 %
R1 2.73 2.18 %
Current price: 2.67
Support S1 2.65 -0.682 %
S2 2.63 -1.57 %
S3 2.59 -3.00 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 2.70 1.12 %
Current price 2.67
Support S1 2.61 -2.25%
S2 2.49 -6.74%
S3 2.41 -9.74%

FAQ

What is the symbol for New Gold Inc. Stock and on which exchange is it traded?
The symbol for New Gold Inc. is NGD.TO and it is traded on the TSX (Toronto Stock Exchange).

Should I buy or sell New Gold Inc. Stock?
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 New Gold Inc. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

How to buy New Gold Inc. Stock?
New Gold Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy New Gold Inc. Stock.

What's the current price of New Gold Inc. Stock?
As of the end of day on the May 10, 2024, the price of an New Gold Inc. (NGD.TO) share was $2.67.

What is the 52-week high and low for New Gold Inc. Stock?
The 52-week high for New Gold Inc. Stock is $2.75 and the 52-week low is $1.18.

What is the market capitalization of New Gold Inc. Stock?
As of the May 10, 2024, the market capitalization of New Gold Inc. is 1.862B.

When is the next earnings date for New Gold Inc.?
The upcoming earnings date for New Gold Inc. is Jul 24, 2024.
Click to get the best stock tips daily for free!

About New Gold Inc.

New Gold. New Gold Inc., an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada. It also operates the Cerro San Pedro mine in San Luis Potosí, Mexico. The company... NGD.TO Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT