For those interested in gold exploration stocks, there is no finer fundamental prospect than New Found Gold (NFG).
Unfortunately, like the NEM's GPS chart here, NFG has fallen too, now more than 51%.
Click chart to enlarge
Time to Buy?
On 8/9/21 we noted "No amount of alleged positive seasonality trends, moon shot forecasts or other nonsense will save the day". This now includes a DSI of 10 plus today's full moon, as evidence the resource market bottom is in.
Those forecasts may well turn out to be true (in time). I too suspect we are real close but there is zero mathematical evidence to support it right now and suspicions don't count.
All else is wishful thinking.
When to Buy?
Once again, the answer is always in the mathematical trend. "A new daily trend is required to restart this failed engine of progress. This needs to be followed by subsequent positive thrusts from the weekly and monthly engines for a full bull market confirmation".
When a new daily develops, NFG will likely be a prime purchase prospect.
P.S. There are two other development candidates which already have large defined resources and are much further along in the turnaround process. If you want their names, just ask. It's free. Offer expires 9/30/21.