RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of TMQ
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

NovaCopper Inc stock downgraded from Strong Buy Candidate to Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)

Buy candidate since Mar 20, 2024 Gain 9.63% PDF

The NovaCopper Inc stock price gained 1.15% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.503 to $0.509. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.00% from a day low at $0.500 to a day high of $0.515. The price has risen in 7 of the last 10 days and is up by 2.28% over the past 2 weeks. Volume fell on the last day by -88 thousand shares and in total, 64 thousand shares were bought and sold for approximately $32.45 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NovaCopper Inc stock with a 90% probability to be traded between $0.434 and $0.628 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

TMQ Signals & Forecast

The NovaCopper Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $0.484 and $0.459. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 19.72%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for NovaCopper Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.477 and $0.447. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NovaCopper Inc finds support just below today's level at $0.477. If this is broken, then the next support from accumulated volume will be at $0.447 and $0.439.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0150 between high and low, or 3.00%. For the last week the stock has had daily average volatility of 5.27%.

Since the NovaCopper Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $0.483 (-5.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (TMQ) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect NovaCopper Inc to open at $0.508, and during the day (based on 14 day Average True Range), to move between $0.476 and $0.541, which gives a possible trading interval of +/-$0.0325 (+/-6.38%) up or down from last closing price. If NovaCopper Inc takes out the full calculated possible swing range there will be an estimated 12.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.477 (6.27%) than the resistance at $0.556 (9.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NovaCopper Inc stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for NovaCopper Inc stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.156 Buy Candidate Downgraded

Predicted Opening Price for NovaCopper Inc of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$0.508 ( 0.170%) $0.509

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for TMQ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.523 2.78 %
R2 0.517 1.65 %
R1 0.514 0.96 %
Current price: 0.509
Support S1 0.502 -1.30 %
S2 0.499 -1.99 %
S3 0.493 -3.12 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.613 20.46 %
R2 0.600 17.92 %
R1 0.556 9.18 %
Current price 0.509
Support S1 0.477 -6.27%
S2 0.447 -12.07%
S3 0.439 -13.72%

FAQ

What is the symbol for NovaCopper Inc Stock and on which exchange is it traded?
The symbol for NovaCopper Inc is TMQ and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell NovaCopper Inc Stock?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for NovaCopper Inc stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

How to buy NovaCopper Inc Stock?
NovaCopper Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy NovaCopper Inc Stock.

What's the current price of NovaCopper Inc Stock?
As of the end of day on the 2024-03-27, the price of an NovaCopper Inc (TMQ) share was $0.509.

What is the 52-week high and low for NovaCopper Inc Stock?
The 52-week high for NovaCopper Inc Stock is $0.686 and the 52-week low is $0.389.

What is the market capitalization of NovaCopper Inc Stock?
As of the 2024-03-27, the market capitalization of NovaCopper Inc is 81.28M.

When is the next earnings date for NovaCopper Inc?
The upcoming earnings date for NovaCopper Inc is Apr 03, 2024.
Click to get the best stock tips daily for free!

About NovaCopper Inc

NovaCopper Trilogy Metals Inc., a base metals exploration company, explores for and develops mineral properties in the United States. It principally holds interests in the Upper Kobuk mineral projects that include the Arctic, which contains polymetallic volcanogenic massive sulfide deposits; and Bornite that contains carbonate-hosted copper - cobalt deposits covering an area of approximately 426,690 acres located in the Ambler mining district in Northwest A... TMQ Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT