Nickel One Resources Stock Forecast
Stronger technical forecast for Nickel One Resources stock price after Wednesday trading.
(Updated on May 08, 2024)
No changes to the price of Nickel One Resources stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0270 to a day high of $0.0270. The price has fallen in 4 of the last 10 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 -30.94% during the next 3 months and, with a 90% probability hold a price between $0.0114 and $0.0225 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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NKORF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nickel One Resources stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0303 and $0.0292. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.88%
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 Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Nickel One Resources to open at $0.0270, and during the day (based on 14 day Average True Range), to move between $0.0233 and $0.0307, which gives a possible trading interval of +/-$0.0037 (+/-13.69%) up or down from last closing price. If Nickel One Resources takes out the full calculated possible swing range there will be an estimated 27.39% 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.160 Sell Candidate Upgraded
Predicted Opening Price for Nickel One Resources of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.0270 ( 0%) | $0.0270 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NKORF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0270 | . | |
| R2 | 0.0270 | . | ||
| R1 | 0.0270 | . | ||
| Current price: | 0.0270 | |||
| Support | S1 | 0.0270 | . | |
| S2 | 0.0270 | . | ||
| S3 | 0.0270 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0300 | 11.11 % | |
| R2 | 0.0298 | 10.19 % | ||
| R1 | 0.0289 | 6.85 % | ||
| Current price | 0.0270 | |||
| Support | S1 | 0.0260 | -3.70% | |
| S2 | 0.0255 | -5.56% | ||
| S3 | 0.0240 | -11.11% |
FAQ
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