NFG trade ideas
New Found Gold Second postThe trend since the end of February is still moving up with consolidation the last two weeks.
April 12th filled the gap down from Octover 2023 setting as well as setting the YTD High. I think May will be positive and move past the resistance levels and try to test the YTD high.
Bullish for NFG NEW FOUND GOLDlooking at the past 20,50 and 200 sma when they converged like they are about to soon, the price went on a little bull run. over 6 and hopefully close to 7 by mid may !? hopefully im reading this right, and with all the positive test results that have come back, im feeling bullish!!! this is just my opinion and also this is my first post.
New Found Gold New Found Gold is looking great for the long run.
This discovery is in a great location, with strong leadership, & local government support.
NFG has lots of financial backing from strong hands like Eric Sprott & Palisade Gold.
Once this project goes into production, NFG will be in a good position to make large profit margins.
Break Out LevelScanning gold charts this looks like best of breed for a potential quick pop. Not over bought daily and just oversold weekly. Double close below the annual pivot would be stop. Upside up to 7ish.
NFG is showing signs of a potential tradeNFG Is coming in to potential support on Friday trading.
$5.50 is a attractive entry.
a bounce to $6.05 would give a healthy 10%.
There's a gap fill around $5.00 to be aware off too.
A Big wedge is forming. New Found Gold is one of the higher grade discoveries this year.
I'm seeing some interesting support levels and a potential for a fairly safe 15 - 20% swing without having to fight the down sloping channel.
If it breaks the down slopping channel then could be a 30% plus swing.
This looks like a nice set up to me.
I'm going to look to start a half potion at $5.00 and review if it dips lower.
NFGC daily (impulse)(10.50 PT minor 3 ends mid August 23')in this count the possibility of an impulse is taken.
NFGC daily (double three)(9 PT mid April 24')in this count we have a possible double three ending mid April 2024
NFGC (daily)(single ZZ)in this count a single zig zag gives a target close to five dollars followed by the b/x wave settling near 3.50 with the last c/y wave towards 6 filled with buyers galore
Double your profits --- Target $5 in short term Great future for this new Gold Mine !! Current price is at a sweet spot.
Short term target $8.31 @ Fib 0.236 .. Long Term $12.04.
NFGC pumpingNew Found Gold has been in a correction for quite awhile and is breaking out of its RSI channel. Previous fib trend before the all-time high vs new fib trend. How high will it go? To the top of cup or higher?
newfound goldhuge grades in canadas' new gold district. Coiling for a b/o. the FED is panicking, raise rates, too much, too little, oil pushing inflation..... chaos
New Found Gold - ABC upNew Found Gold (TSXV: NFG) is carving out an ABC up pattern with the ABC completed and the C to D leg underway. NFG announced today a bought deal private placement for $50MM dollars. The financing is being done as "flow through" which provides a tax benefit to the Canadian investors who participate and is typically, as in this case, priced above the market. Notably, this financing is being done without warrants which is an indication of strong demand.
The Palantir announcement this week that they recently purchased $51MM in gold bars and are willing to accept payment in gold from their customers going forward signals a sea change in the gold market. We see new, deep-pocketed participants arriving that were not previously involved in the gold market. They have enormous assets to protect.
I see this financing as consistent with the Palantir announcement. There is big money that wants to have an allocation to a sector of the market that is tiny on a relative basis. One of the most efficient ways, from that perspective, is this type of bought deal where they can get substantial exposure without having to buy in the market. The fundamentals and technicals appear mutually supportive here and the extreme negative sentiment in the gold market is icing on an already rich cake.
They say not all gaps close I'm just a dummy and the technicals fall short on me....but gapping is never good. NFG continues to push drill results and the market continues to support...but at some point growth like that needs to be accounted for. Do i think it returns to close the gap? Not yet, not with todays drill results...but it sets us up for volatility which is never good.
New Found Gold waits for no Metal!Up 12% this morning, $NFG.v isn't waiting for metal to resume uptrend. It's on a mission... can this be the next Kirkland Lake Gold?
