Volatile ride for Novo Integrated Sciences, Inc. stock price on Wednesday moving between $0.371 and $0.538StockInvest.us, 2 months ago
The Novo Integrated Sciences, Inc. stock price gained 13.06% on the last trading day (Wednesday, 13th Sep 2023), rising from $0.390 to $0.441. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 45.12% from a day low at $0.371 to a day high of $0.538. The price has risen in 6 of the last 10 days and is up by 227.02% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 64 million more shares were traded than the day before. In total, 148 million shares were bought and sold for approximately $65.34 million.
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 $0.228, a level that may pose a second chance to hit a runner.
The Novo Integrated Sciences, 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 $0.333 and $0.171. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, August 29, 2023, and so far it has risen 227.02%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $0.390 and $0.366.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.366 may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.167 between high and low, or 45.12%. For the last week, the stock has had daily average volatility of 31.93%.
The Novo Integrated Sciences, Inc. stock is extremely overbought on RSI14 (78). 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.
Novo Integrated Sciences, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full Novo Integrated Sciences, Inc. forecast and analysis here.