North Mining Shares Company Limited Stock Forecast

North Mining Shares Company Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 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 12.50%. 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. The very low volume increases the risk and reduces the other technical signals issued. 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$0.0439. On a fall, the stock will find some support from the short-term average at HK$0.0340. 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$0.0350 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$0.0020 between high and low, or 5.88%. For the last week, the stock has had daily average volatility of 4.99%.

North Mining Shares Company Limited is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: HK$0.0343 (-4.81%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 22 which reduces the risk some. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (0433.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect North Mining Shares Company Limited to open at HK$0.0353, and during the day (based on 14 day Average True Range), to move between HK$0.0331 and HK$0.0389, which gives a possible trading interval of +/-HK$0.0029 (+/-7.93%) 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 15.87% 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$0.0350 (2.78%) than the resistance at HK$0.0420 (16.67%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for North Mining Shares Company Limited of Tuesday, July 2, 2024

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