Northern Technologies International Corp Stock Forecast
Northern Technologies International Corp stock downgraded to Buy Candidate
(Updated on May 10, 2024)
The Northern Technologies International Corp stock price gained 0.265% on the last trading day (Friday, 10th May 2024), rising from $18.90 to $18.95. During the last trading day the stock fluctuated 4.93% from a day low at $18.71 to a day high of $19.63. The price has risen in 7 of the last 10 days and is up by 9.47% over the past 2 weeks. Volume fell on the last day by -169 thousand shares and in total, 35 thousand shares were bought and sold for approximately $657.93 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 has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $18.40, a level that may pose a second chance to hit a runner. According to fan-theory $23.13 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NTIC Signals & Forecast
The Northern Technologies International Corp 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 $18.48 and $15.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 61.28%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not.
Support, Risk & Stop-loss for Northern Technologies International Corp stock
Northern Technologies International Corp finds support from accumulated volume at $18.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.92 between high and low, or 4.93%. For the last week the stock has had daily average volatility of 5.65%.
The Northern Technologies International Corp stock is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $18.40 (-2.90%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (NTIC) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Northern Technologies International Corporation to open at $19.10, and during the day (based on 14 day Average True Range), to move between $18.10 and $19.80, which gives a possible trading interval of +/-$0.85 (+/-4.48%) up or down from last closing price. If Northern Technologies International Corporation takes out the full calculated possible swing range there will be an estimated 8.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $18.90, some $0.0500 (0.26%) from the current price of $18.95, our system finds the risk reward attractive.
Is Northern Technologies International Corporation stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Northern Technologies International Corp 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: 3.088 Buy Candidate Downgraded
Predicted Opening Price for Northern Technologies International Corporation of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$19.10 ( 0.779%) | $18.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTIC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.02 | 5.65 % | |
R2 | 19.67 | 3.79 % | ||
R1 | 19.45 | 2.64 % | ||
Current price: | 18.95 | |||
Support | S1 | 18.75 | -1.08 % | |
S2 | 18.53 | -2.23 % | ||
S3 | 18.17 | -4.09 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 18.95 | |||
Support | S1 | 18.90 | -0.264% | |
S2 | 18.09 | -4.54% | ||
S3 | 14.87 | -21.53% |
NTIC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 17, 2024 | Apr 30, 2024 | May 15, 2024 | $0.0700 | 0.370% |
2 | Jan 30, 2024 | Jan 30, 2024 | Feb 14, 2024 | $0.0700 | 0.512% |
3 | Oct 18, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.0700 | 0.580% |
4 | Jul 17, 2023 | Aug 01, 2023 | Aug 16, 2023 | $0.0700 | 0.545% |
5 | Apr 21, 2023 | May 02, 2023 | May 17, 2023 | $0.0700 | 0.619% |
FAQ
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