Nickel 28 Capital Corp. Stock Forecast
High volatility in Nickel 28 Capital Corp. stock price on Friday which ended trading at $0.650
(Updated on Jun 21, 2024)
The Nickel 28 Capital Corp. stock price gained 1.56% on the last trading day (Friday, 21st Jun 2024), rising from $0.640 to $0.650. During the last trading day the stock fluctuated 12.70% from a day low at $0.630 to a day high of $0.710. The price has fallen in 8 of the last 10 days and is down by -8.45% for this period. Volume fell on the last day by -6 thousand shares and in total, 46 thousand shares were bought and sold for approximately $29.88 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 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 $0.627 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 15.20% during the next 3 months and, with a 90% probability hold a price between $0.722 and $0.90 at the end of this 3-month period.
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NKL.V Signals & Forecast
There are mixed signals in the stock today. The Nickel 28 Capital Corp. 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 $0.704. On a fall, the stock will find some support from the short-term average at $0.646. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 4.84%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Nickel 28 Capital Corp. stock
Nickel 28 Capital Corp. finds support from accumulated volume at $0.630 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 $0.0800 between high and low, or 12.70%. For the last week the stock has had daily average volatility of 4.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NKL.V) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Nickel 28 Capital Corp. to open at $0.663, and during the day (based on 14 day Average True Range), to move between $0.622 and $0.678, which gives a possible trading interval of +/-$0.0282 (+/-4.33%) up or down from last closing price. If Nickel 28 Capital Corp. takes out the full calculated possible swing range there will be an estimated 8.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.670 (3.08%) than the support at $0.630 (3.08%), 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 Nickel 28 Capital Corp. stock A Buy?
Nickel 28 Capital Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.137 Sell Candidate Upgraded
Predicted Opening Price for Nickel 28 Capital Corp. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.663 ( 2.05%) | $0.650 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NKL.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.743 | 14.36% |
| R2 | 0.713 | 9.66% |
| R1 | 0.694 | 6.75% |
| Price | 0.650 | |
| S1 | 0.633 | -2.65% |
| S2 | 0.614 | -5.55% |
| S3 | 0.583 | -10.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.740 | 13.85% |
| R2 | 0.680 | 4.62% |
| R1 | 0.670 | 3.08% |
| Price | 0.650 | |
| S1 | 0.630 | -3.08% |
| S2 | 0.600 | -7.69% |
| S3 | 0.590 | -9.23% |
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