North Mining Shares Company Limited Stock Forecast

North Mining Shares Company Limited stock price up more than 9.38% on Tuesday
(Updated on Jun 25, 2024)

0433.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 9.38%. Further rise is indicated until a new top pivot has been found. North Mining Shares Company Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The North Mining Shares Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.0449. On a fall, the stock will find some support from the short-term average at HK$0.0337. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for North Mining Shares Company Limited stock

North Mining Shares Company Limited finds support from accumulated volume at HK$0.0340 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 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 HK$0.0030 between high and low, or 9.38%. For the last week, the stock has had daily average volatility of 6.31%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0433.HK) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect North Mining Shares Company Limited to open at HK$0.0340, and during the day (based on 14 day Average True Range), to move between HK$0.0319 and HK$0.0381, which gives a possible trading interval of +/-HK$0.0031 (+/-8.93%) up or down from last closing price. If North Mining Shares Company Limited takes out the full calculated possible swing range there will be an estimated 17.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.0340 (2.86%) than the resistance at HK$0.0420 (20.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is North Mining Shares Company Limited stock A Buy?

North Mining Shares Company Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.466 Sell Candidate Upgraded

Predicted Opening Price for North Mining Shares Company Limited of Wednesday, June 26, 2024

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