Northern Dynasty Minerals Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Tuesday for Northern Dynasty Minerals Ltd
(Updated on May 07, 2024)
The Northern Dynasty Minerals Ltd stock price gained 1.15% on the last trading day (Tuesday, 7th May 2024), rising from $0.287 to $0.290. During the last trading day the stock fluctuated 1.75% from a day low at $0.285 to a day high of $0.290. The price has been going up and down for this period, and there has been a -2.85% loss for the last 2 weeks. Volume fell on the last day by -674 thousand shares and in total, 380 thousand shares were bought and sold for approximately $110.26 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.288 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 24.12% during the next 3 months and, with a 90% probability hold a price between $0.357 and $0.459 at the end of this 3-month period.
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NAK Signals & Forecast
There are few to no technical positive signals at the moment. The Northern Dynasty Minerals Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.296 and $0.307. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -17.14%. Further fall is indicated until a new bottom pivot has been found. 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 Dynasty Minerals Ltd stock
Northern Dynasty Minerals Ltd finds support from accumulated volume at $0.284 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 $0.0050 between high and low, or 1.75%. For the last week the stock has had daily average volatility of 3.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NAK) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Northern Dynasty Minerals Ltd to open at $0.288, and during the day (based on 14 day Average True Range), to move between $0.274 and $0.306, which gives a possible trading interval of +/-$0.0159 (+/-5.48%) up or down from last closing price. If Northern Dynasty Minerals Ltd takes out the full calculated possible swing range there will be an estimated 10.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.295 (1.76%) than the support at $0.284 (2.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Northern Dynasty Minerals Ltd will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Northern Dynasty Minerals Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.10% in the first trading day after earnings release.
Is Northern Dynasty Minerals Ltd stock A Buy?
The Northern Dynasty Minerals Ltd stock holds several negative signals and despite the positive trend, we believe Northern Dynasty Minerals Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.564 Sell Candidate Unchanged
Predicted Opening Price for Northern Dynasty Minerals Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.288 ( 0.575%) | $0.290 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.293 | 1.15 % | |
| R2 | 0.291 | 0.491 % | ||
| R1 | 0.290 | 0.0839 % | ||
| Current price: | 0.290 | |||
| Support | S1 | 0.286 | -1.23 % | |
| S2 | 0.285 | -1.64 % | ||
| S3 | 0.283 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.350 | 20.69 % | |
| R2 | 0.324 | 11.62 % | ||
| R1 | 0.295 | 1.76 % | ||
| Current price | 0.290 | |||
| Support | S1 | 0.284 | -2.21% | |
| S2 | 0.277 | -4.66% | ||
| S3 | 0.244 | -15.86% |
FAQ
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