Newmont Goldcorp Corporation Stock Forecast
Stronger technical forecast for Newmont Goldcorp Corporation stock price after Tuesday trading.
(Updated on May 07, 2024)
The Newmont Goldcorp Corporation stock price gained 0.442% on the last trading day (Tuesday, 7th May 2024), rising from $56.61 to $56.86. During the last trading day the stock fluctuated 1.04% from a day low at $56.49 to a day high of $57.08. The price has been going up and down for this period, and there has been a 10.24% 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, 3 thousand more shares were traded than the day before. In total, 247 thousand shares were bought and sold for approximately $14.06 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 34.45% during the next 3 months and, with a 90% probability hold a price between $71.13 and $82.45 at the end of this 3-month period.
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NGT.TO Signals & Forecast
The Newmont Goldcorp Corporation 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 $56.42 and $52.27. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -4.05%. 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).
Support, Risk & Stop-loss for Newmont Goldcorp Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $53.91 and $53.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Newmont Goldcorp Corporation finds support just below today's level at $53.91. If this is broken, then the next support from accumulated volume will be at $53.30 and $45.43.
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 $0.590 between high and low, or 1.04%. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $54.17 (-4.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (NGT.TO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Newmont Goldcorp Corporation to open at $56.81, and during the day (based on 14 day Average True Range), to move between $55.16 and $58.56, which gives a possible trading interval of +/-$1.70 (+/-2.99%) up or down from last closing price. If Newmont Goldcorp Corporation takes out the full calculated possible swing range there will be an estimated 5.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $57.77 (1.60%) than the support at $53.91 (5.19%), 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 Newmont Goldcorp Corporation 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 Newmont Goldcorp Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.165 Buy Candidate Upgraded
Predicted Opening Price for Newmont Goldcorp Corporation of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$56.81 ( 0.0879%) | $56.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGT.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 57.40 | 0.95 % | |
R2 | 57.17 | 0.553 % | ||
R1 | 57.04 | 0.308 % | ||
Current price: | 56.86 | |||
Support | S1 | 56.58 | -0.484 % | |
S2 | 56.45 | -0.729 % | ||
S3 | 56.22 | -1.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.26 | 4.22 % | |
R2 | 58.38 | 2.67 % | ||
R1 | 57.77 | 1.60 % | ||
Current price | 56.86 | |||
Support | S1 | 53.91 | -5.19% | |
S2 | 53.30 | -6.26% | ||
S3 | 45.43 | -20.10% |
NGT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 04, 2024 | Jun 04, 2024 | Jun 27, 2024 | $0.342 | 0.601% |
2 | Feb 22, 2024 | Mar 04, 2024 | Mar 28, 2024 | $0.338 | 0.696% |
3 | Oct 26, 2023 | Nov 29, 2023 | Dec 22, 2023 | $0.543 | 0.97% |
4 | Jul 20, 2023 | Sep 06, 2023 | Sep 21, 2023 | $0.530 | 0.97% |
5 | Apr 27, 2023 | May 31, 2023 | Jun 15, 2023 | $0.541 | 0.96% |
FAQ
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