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

SID - National Steel Company Fri 13'th Jan 2017

Industry: Steel & Iron Sector: Basic Materials
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Buy Candidate

Score: 1.34

#2955 of 5193
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 93.10%
Risk: High
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Stock analysis for Fri 13'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-05

Gain 4.16%

National Steel Company Stock Analysis


National Steel Company fell by -2.84% in the last day, from USD 3.87 to USD 3.76. The price has risen in 6 of the last 10 days days and is up by 14.29% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -1.33 million shares and in total there were 1.80 million shares bought and sold for approx. USD 6.78 million.

Trend

National Steel Company lays in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.8% during the next 3 months and, with 90% probability will hold a price between USD 3.09 and USD 4.25 at the end of this period.

Signals

National Steel Company holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 3.67 and USD 3.41. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday January 12, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

The stock had a Golden Star Signal* on Thursday June 16, 2016 in the mediumterm chart.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Relative Strength Index (RSI)

The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.

Support & Resistance

On the downside the stock finds support just below today's level from accumulated volume at USD 3.53 and USD 3.22 On the upside the stock meets some resistance just above today's level from accumulated volume at USD 3.77, USD 3.87 and USD 3.91.

There is natural risk involved when a stock is testing a support level, as if this is broken the stock may fall to the next support level. In this case National Steel Company finds support just below today's level at 3.53. If this is broken the next support from accumulated volume will be at 3.22 and 3.05. The stock is about to test the resistance from accumulated volume at USD 3.77 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 0.13 between high and low, or 3.49%. For the last week, the stock has had a daily average volatility of 4.61%.

Our recommended stoploss: USD 3.57 (-5.05%) ( criteria: risk and position in trend)

Evaluation

Several short-term signals, along with a general good trend, are positive and 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.

Buy Candidate


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