Northern Dynasty Minerals Ltd. Stock Forecast
Northern Dynasty Minerals Ltd. stock price up 1.23% on Friday
(Updated on Apr 26, 2024)
The Northern Dynasty Minerals Ltd. stock price gained 1.23% on the last trading day (Friday, 26th Apr 2024), rising from $0.405 to $0.410. During the last trading day the stock fluctuated 1.23% from a day low at $0.405 to a day high of $0.410. The price has been going up and down for this period, and there has been a -14.58% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 22 thousand shares were bought and sold for approximately $9.10 thousand.
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 $0.399 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 35.49% during the next 3 months and, with a 90% probability hold a price between $0.541 and $0.679 at the end of this 3-month period.
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NDM.TO Signals & Forecast
There are mixed signals in the stock today. The Northern Dynasty Minerals Ltd. 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 $0.422. On a fall, the stock will find some support from the short-term average at $0.407. 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. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -14.58%. 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). Northern Dynasty Minerals Ltd. 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.
Support, Risk & Stop-loss for Northern Dynasty Minerals Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.375 and $0.335. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Northern Dynasty Minerals Ltd. finds support just below today's level at $0.375. If this is broken, then the next support from accumulated volume will be at $0.335 and $0.320.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0050 between high and low, or 1.23%. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NDM.TO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Northern Dynasty Minerals Ltd. to open at $0.408, and during the day (based on 14 day Average True Range), to move between $0.386 and $0.434, which gives a possible trading interval of +/-$0.0236 (+/-5.75%) 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 11.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.440 (7.32%) than the support at $0.375 (8.54%), 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.
Is Northern Dynasty Minerals Ltd. stock A Buy?
Northern Dynasty Minerals Ltd. 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.
Current score: -1.910 Sell Candidate Unchanged
Predicted Opening Price for Northern Dynasty Minerals Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.408 ( 0.407%) | $0.410 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.413 | 0.81 % | |
| R2 | 0.411 | 0.347 % | ||
| R1 | 0.410 | 0.0593 % | ||
| Current price: | 0.410 | |||
| Support | S1 | 0.406 | -0.87 % | |
| S2 | 0.405 | -1.16 % | ||
| S3 | 0.403 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.480 | 17.07 % | |
| R2 | 0.475 | 15.85 % | ||
| R1 | 0.440 | 7.32 % | ||
| Current price | 0.410 | |||
| Support | S1 | 0.375 | -8.54% | |
| S2 | 0.335 | -18.29% | ||
| S3 | 0.320 | -21.95% |
FAQ
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