NEW GOLD INC (NGD) Stock Technical Analysis
USA - NYSEARCA:NGD - CA6445351068 - Common Stock
We assign a technical rating of 9 out of 10 to NGD. In the last year, NGD was one of the better performers, but we do observe some doubts in the very recent evolution.
Besides having an excellent technical rating, NGD also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 7.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 6.92, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NGD in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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When analyzing the support we can see 5 important areas.
- A support zone ranging from 6.83 to 6.92. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @6.48 from a horizontal line in the weekly time frame.
- Support @6.31 from a horizontal line in the daily time frame.
- A support zone ranging from 5.34 to 5.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @3.85 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 7.49 to 7.59. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NGD is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for NGD is neutral. |
| ChartMill Relative Strength | 96.84 | POSITIVE | NGD has a high relative strength, it outperformed 96.84% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of NGD is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NGD is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NGD is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.57 | NEUTRAL | The RSI value for NGD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests NGD has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 56.95 | NEUTRAL | The Stochastics value for NGD is a neutral value. |
| Average True Range in percent/ATR (20) | 6.44 | HIGH VOLATILITY | The high ATR as a percentage value for NGD suggests high volalility. |
| Average Directional Index/ADX (14) | 21.74 | NEUTRAL | The ADX value for NGD suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 7.60 | 6.82 | 0.78 (10.26%) | 9.74% |
| An entry @7.60. This is a Buy Stop order right above the resistance zone. | An exit @6.82. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.78 points, which is 10.26%. | For a 1.00% total portfolio risk, you can invest 9.74% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
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-0.15 (-2.09%)
NEW GOLD INC / NGD FAQ
What is the ChartMill technical rating of NEW GOLD INC (NGD) stock?
ChartMill assigns a technical rating of 9 / 10 to NGD.
What is the trend direction for NGD stock?
The current trend direction for NEW GOLD INC (NGD) is Bullish.
What is the RSI signal for NGD stock?
NEW GOLD INC (NGD) has an RSI value of 50.571. This indicates that the stock is currently neutral.
Can you provide the MACD signal for NEW GOLD INC?
The MACD indicator for NEW GOLD INC (NGD) has a value of 0.0108185, indicating a bearish trend.