Niobay Metals Inc. 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
Big movements in Niobay Metals Inc. stock price on Friday moving 62.50% between high and low
(Updated on Jun 21, 2024)
The Niobay Metals Inc. stock price fell by -8.33% on the last day (Friday, 21st Jun 2024) from $0.0600 to $0.0550. During the last trading day the stock fluctuated 62.50% from a day low at $0.0400 to a day high of $0.0650. The price has been going up and down for this period, and there has been a -8.33% loss for the last 2 weeks. Volume has increased on the last day by 885 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 885 thousand shares were bought and sold for approximately $48.65 thousand.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.0556. A reaction back to this level may hold a second chance to get out before further falls.
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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
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.0533 ( 3.03%) | $0.0550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NBY.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0783 | 42.42% |
| R2 | 0.0688 | 25.06% |
| R1 | 0.0629 | 14.33% |
| Price | 0.0550 | |
| S1 | 0.0438 | -20.39% |
| S2 | 0.0379 | -31.12% |
| S3 | 0.0283 | -48.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0650 | 18.18% |
| R1 | 0.0600 | 9.09% |
| Price | 0.0550 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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