Help us make better tools for you!. Read more (Published: 2017-01-12)

NAO - Nordic American Offshore Ltd Fri 13'th Jan 2017

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Buy Candidate

Score: 1.52

#2851 of 5193
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 85.71%
Risk: Medium
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Stock analysis for Fri 13'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-13

Nordic American Offshore Ltd Stock Analysis


No changes to the price of Nordic American Offshore Ltd in the last trading day. The price has been going up and down for this period, and there has been a 1.79% gain for the last 2 weeks.

Trend

Nordic American Offshore Ltd lays in the middle of a very wide and strong falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.2% during the next 3 months and, with 90% probability will hold a price between USD 1.94 and USD 2.88 at the end of this period.

Signals

A buy signal was issued from a pivot bottom point on Wednesday January 11, 2017, which indicates further gains until a new top pivot has been found. Volume gained on the last day while the share price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. Nordic American Offshore Ltd holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 3.02. On a fall, the stock will find some support from the short-term average at USD 2.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.

Relative Strength Index (RSI)

RSI14 is 50 and the stock is currently not being overbought or oversold

Support & Resistance

Nordic American Offshore Ltd finds support from accumulated volume at USD 2.80, USD 2.75, and USD 2.60. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 2.95, USD 3.05 and USD 3.35.

The stock is about to test the resistance from accumulated volume at USD 2.95 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved USD 0.08 between high and low, or 2.89%. For the last week, the stock has had a daily average volatility of 4.18%.

Our recommended stoploss: USD 2.82 (-1.05%) ( criteria: risk and position in trend)

Evaluation

Several short-term signals are positive and despite the stock being in a strong falling trend we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate


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