New World Gold Corporation (OTCMKTS:NWGC) Stock Extends Rally: Rockets 133% in a Week

If you are currently on the lookout for stocks which might have made considerable gains in the past week then it could well be the right time to take a look at the New World Gold Corporation (OTCMKTS:NWGC) stock.

Market Action

On Friday, NWGC stock  moved up 17% at $0.0007 with more than 2.55 million shares, compared to its average volume of 22.64 million shares. The stock has moved within a range of $0.0004 – 0.0007 after opening the trade at $0.0006.

Latest Development

There has been no news about the stock for many weeks but over the past week, investors have piled on to the New World Gold stock in a big way and sent it soaring by as much as 133%. As a matter of fact, the last time any news emerged about the company was back on September 28 when New World Gold released a General Corporate Announcement with regards to some events that had taken place in the previous 72 hours.

The company announced at the time that back on September 34, 2021 it had been sent an e-mail by the OTC Markets Surveillance unit. The e-mail, which was addressed to the Chief Executive Officer of the company Robert Honigford, stated that the surveillance unit believed that the disclosures that had been uploaded by New World Gold were unreliable.

As a result, the OTCIQ credentials that the company had earned had been revoked. However, the latest rally may not be related to those events and investors could do well to keep a close eye on any news regarding New World Gold.

Traders Note

NWGC stock is trading below the 200-Day and 50-Day Moving averages of $0.0010 and $0.0055 respectively. However, the stock is trading above the 20-Day moving average of $0.0005. The stock is up 40% over the past month.

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