Nickel One Resources Stock Forecast

High volatility in Nickel One Resources stock price on Friday which ended trading at $0.0270
(Updated on Apr 26, 2024)

NKORF Signals & Forecast

There are few to no technical positive signals at the moment. The Nickel One Resources 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 $0.0285 and $0.0291. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -22.86%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Nickel One Resources stock

Nickel One Resources finds support from accumulated volume at $0.0260 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 $0.0032 between high and low, or 11.85%. For the last week the stock has had daily average volatility of 18.63%.

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

Trading Expectations (NKORF) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Nickel One Resources to open at $0.0281, and during the day (based on 14 day Average True Range), to move between $0.0224 and $0.0316, which gives a possible trading interval of +/-$0.0046 (+/-17.08%) up or down from last closing price. If Nickel One Resources takes out the full calculated possible swing range there will be an estimated 34.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0260 (3.70%) than the resistance at $0.0289 (6.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Nickel One Resources stock A Buy?

Nickel One Resources 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: -4.803 Sell Candidate Unchanged

Predicted Opening Price for Nickel One Resources of Monday, April 29, 2024

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