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
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A very strong day for New Gold, Inc stock price on Wednesday
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 29, 2024 Gain 36.29% PDF

The New Gold, Inc stock price gained 6.96% on the last trading day (Wednesday, 27th Mar 2024), rising from $1.58 to $1.69. During the last trading day the stock fluctuated 7.94% from a day low at $1.58 to a day high of $1.70. The price has fallen in 5 of the last 10 days but is still up by 0.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $13.27 million.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $1.72 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 19.14% during the next 3 months and, with a 90% probability hold a price between $1.45 and $2.05 at the end of this 3-month period.

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NGD 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 $1.62 and $1.40. 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 Wednesday, March 20, 2024, and so far it has fallen -0.588%. 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 New Gold, Inc stock

New Gold, Inc finds support from accumulated volume at $1.68 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.125 between high and low, or 7.94%. For the last week, the stock has had daily average volatility of 6.65%.

Our recommended stop-loss: $1.62 (-4.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (NGD) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect New Gold, Inc to open at $1.66, and during the day (based on 14 day Average True Range), to move between $1.59 and $1.79, which gives a possible trading interval of +/-$0.0977 (+/-5.78%) up or down from last closing price. If New Gold, Inc takes out the full calculated possible swing range there will be an estimated 11.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.70 (0.59%) than the support at $1.68 (0.59%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.631 Buy Candidate Upgraded

Predicted Opening Price for New Gold, Inc of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$1.66 ( 2.07%) $1.69

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

Trading levels for NGD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.78 5.33 %
R2 1.73 2.50 %
R1 1.70 0.754 %
Current price: 1.69
Support S1 1.61 -4.90 %
S2 1.58 -6.64 %
S3 1.53 -9.47 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 1.70 0.592 %
Current price 1.69
Support S1 1.68 -0.592%
S2 1.67 -1.18%
S3 1.63 -3.55%

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 and it is traded on the NYSE (New York 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate 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 2024-03-27, the price of an New Gold, Inc (NGD) share was $1.69.

What is the 52-week high and low for New Gold, Inc Stock?
The 52-week high for New Gold, Inc Stock is $1.76 and the 52-week low is $0.86.

What is the market capitalization of New Gold, Inc Stock?
As of the 2024-03-27, the market capitalization of New Gold, Inc is 1.083B.

When is the next earnings date for New Gold, Inc?
The upcoming earnings date for New Gold, Inc is Apr 24, 2024.
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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 Profile

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