Nocopi Technologies, Inc. Stock Forecast
Nocopi Technologies, Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
No changes to the price of Nocopi Technologies, Inc. stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $2.90 to a day high of $2.90. The price has been going up and down for this period, and there has been a 7.41% gain for the last 2 weeks.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $2.90, a level that may pose a second chance to hit a runner. According to fan-theory $3.34 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NNUP Signals & Forecast
The Nocopi Technologies, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.76 and $2.74. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen 0%. 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 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 Nocopi Technologies, Inc. stock
Nocopi Technologies, Inc. finds support from accumulated volume at $2.85 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 0%
Our recommended stop-loss: $2.79 (-3.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (NNUP) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Nocopi Technologies, Inc. to open at $2.90, and during the day (based on 14 day Average True Range), to move between $2.85 and $2.95, which gives a possible trading interval of +/-$0.0506 (+/-1.75%) up or down from last closing price. If Nocopi Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.91 (0.34%) than the support at $2.85 (1.72%), 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 Nocopi Technologies, Inc. stock A Buy?
Nocopi Technologies, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.792 Hold/Accumulate Downgraded
Predicted Opening Price for Nocopi Technologies, Inc. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $2.90 ( 0%) | $2.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NNUP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.90 | - |
| R2 | 2.90 | - |
| R1 | 2.90 | - |
| Price | 2.90 | |
| S1 | 2.90 | - |
| S2 | 2.90 | - |
| S3 | 2.90 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 2.95 | 1.72% |
| R1 | 2.91 | 0.345% |
| Price | 2.90 | |
| S1 | 2.85 | -1.72% |
| S2 | 2.70 | -6.90% |
| S3 | 2.49 | -14.14% |
FAQ
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