Niobay Metals Inc. Stock Forecast

Big movements in Niobay Metals Inc. stock price on Friday moving 62.50% between high and low
(Updated on Jun 21, 2024)

NBY.V Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has fallen 0%. 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. The Niobay Metals Inc. 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 $0.0579 and $0.0636. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Niobay Metals Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Niobay Metals Inc. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.0250 between high and low, or 62.50%. For the last week, the stock has had daily average volatility of 12.50%.

Our recommended stop-loss: $0.0520 (-5.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (NBY.V) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Niobay Metals Inc. to open at $0.0533, and during the day (based on 14 day Average True Range), to move between $0.0495 and $0.0605, which gives a possible trading interval of +/-$0.0055 (+/-9.93%) up or down from last closing price. If Niobay Metals Inc. takes out the full calculated possible swing range there will be an estimated 19.87% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0600, some $0.0050 (9.09%) from the current price of $0.0550, our system finds the risk reward not very attractive.

Is Niobay Metals Inc. stock A Buy?

Niobay Metals Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

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 Niobay Metals Inc. of Monday, June 24, 2024

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