As this happened, A number of analysts have revised their coverage, including TD Securities’s analysts, who increased its forecast for the stock in late May from “a Sell” to “a Hold”. Scotiabank also remained covering NGD and has increased its forecast on May 21, 2024 with a “Sector outperform” recommendation from previously “Sector perform” rating.
Price Performance Review of NGD
On Tuesday, New Gold Inc [AMEX:NGD] saw its stock jump 0.34% to $2.91. New Gold Inc shares have risen nearly 99.32% since the year began. Nevertheless, the stocks have risen 110.87% over the past one year. While a 52-week high of $3.25 was reached on 09/25/24, a 52-week low of $1.09 was recorded on 02/14/24. SMA at 50 days reached $2.80, while 200 days put it at $2.27.
Levels Of Support And Resistance For NGD Stock
The 24-hour chart illustrates a support level at 2.86, which if violated will result in even more drops to 2.80. On the upside, there is a resistance level at 3.00. A further resistance level may holdings at 3.08. The Relative Strength Index (RSI) on the 14-day chart is 57.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.27%. Stochastics %K at 69.87% indicates the stock is a holding.
How much short interest is there in New Gold Inc?
A steep rise in short interest was recorded in New Gold Inc stocks on 2024-11-29, growing by 1.39 million shares to a total of 9.29 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 7.9 million shares. There was a rise of 14.95%, which implies that there is a positive sentiment for the stock.
