New Found Gold still in early stages of breakoutWe are still in the early stages of a breakout for New Found Gold.
Versus Gold, the basing pattern is still forming on the weekly.
A squeeze out of this triangle would create a major pop.
New Found Gold Corp
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In-depth trading ideas
Need a sustained run above $3 Sustaining above the $3.00 level will be vital to get this baby back to all-time highs.
Beyond that, the fib lines should tell us where the next lines of major resistance will be.
Long
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.
Long
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.
Long
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?
Long