Neo Performance Materials Inc. Stock Forecast

Evaluation of Neo Performance Materials Inc. stock downgraded after the last trading session.
(Updated on Apr 23, 2024)

NEO.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 3.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Neo Performance Materials 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 $5.99 and $6.30. A break-up above any of these levels will issue buy signals. Neo Performance Materials 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".

Support, Risk & Stop-loss for Neo Performance Materials Inc. stock

Neo Performance Materials Inc. finds support from accumulated volume at $5.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.130 (2.19%) between high and low. For the last week, the stock has had daily average volatility of 2.38%.

Neo Performance Materials Inc. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NEO.TO) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Neo Performance Materials Inc. to open at $5.99, and during the day (based on 14 day Average True Range), to move between $5.79 and $6.15, which gives a possible trading interval of +/-$0.184 (+/-3.08%) up or down from last closing price. If Neo Performance Materials Inc. takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.94 (0.50%) than the resistance at $6.02 (0.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Neo Performance Materials Inc. stock A Buy?

Neo Performance Materials Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.243 Sell Candidate Downgraded

Predicted Opening Price for Neo Performance Materials Inc. of Wednesday, April 24, 2024

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