NORTHERN GRAPHITE CO Stock Forecast
Volatile ride for NORTHERN GRAPHITE CO stock price on Tuesday moving between $0.0760 and $0.0899
(Updated on May 14, 2024)
The NORTHERN GRAPHITE CO stock price gained 0.223% on the last trading day (Tuesday, 14th May 2024), rising from $0.0897 to $0.0899. During the last trading day the stock fluctuated 18.29% from a day low at $0.0760 to a day high of $0.0899. The price has risen in 5 of the last 10 days but is still down by -9.92% for this period. Volume fell on the last day by -253 thousand shares and in total, 60 thousand shares were bought and sold for approximately $5.39 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -35.70% during the next 3 months and, with a 90% probability hold a price between $0.0488 and $0.0686 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NGPHF Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 8.71%. 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 NORTHERN GRAPHITE CO 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 $0.0901 and $0.107. A break-up above any of these levels will issue buy signals. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NORTHERN GRAPHITE CO stock
NORTHERN GRAPHITE CO finds support from accumulated volume at $0.0897 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 $0.0139 between high and low, or 18.29%. For the last week the stock has had daily average volatility of 9.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NGPHF) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect NORTHERN GRAPHITE CO to open at $0.0853, and during the day (based on 14 day Average True Range), to move between $0.0811 and $0.0987, which gives a possible trading interval of +/-$0.0088 (+/-9.82%) up or down from last closing price. If NORTHERN GRAPHITE CO takes out the full calculated possible swing range there will be an estimated 19.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0900 (0.11%) than the support at $0.0897 (0.22%), 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 GRAPHITE CO stock A Buy?
NORTHERN GRAPHITE CO holds several negative signals and is within a very 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.
Current score: -1.998 Sell Candidate Unchanged
Predicted Opening Price for NORTHERN GRAPHITE CO of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $0.0853 ( 5.15%) | $0.0899 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGPHF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0992 | 10.31 % | |
| R2 | 0.0939 | 4.40 % | ||
| R1 | 0.0906 | 0.752 % | ||
| Current price: | 0.0899 | |||
| Support | S1 | 0.0800 | -11.06 % | |
| S2 | 0.0767 | -14.71 % | ||
| S3 | 0.0714 | -20.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.110 | 22.36 % | |
| R2 | 0.0980 | 9.01 % | ||
| R1 | 0.0900 | 0.111 % | ||
| Current price | 0.0899 | |||
| Support | S1 | 0.0897 | -0.222% | |
| S2 | 0.0890 | -1.00% | ||
| S3 | 0.0827 | -8.01% |
FAQ
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