New Position in NGD
February 1, 2024
New Gold was bought yesterday before the close of trading, below are both daily and weekly charts. In the current price zone seems like a good area for the stock to find support, both the trend and the stochastics suggest. I also like how the moving averages are shaping up on both charts. Essentially, we are buying a strong stock after a good-sized correction, realizing that metals prices (fundamentals) will still be the most important factor driving the stock price. I consider this a mid-cap producer with exploration potential that could increase reserves.
