North American Construction Group Ltd. Stock Forecast

North American Construction Group Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

NOA.TO Signals & Forecast

There are few to no technical positive signals at the moment. The North American Construction Group Ltd. 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 $27.95 and $29.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -10.50%. 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). North American Construction Group Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for North American Construction Group Ltd. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.730 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 1.51%.

North American Construction Group Ltd. is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $25.75 (-4.98%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 14 which reduces the risk some. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (NOA.TO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect North American Construction Group Ltd. to open at $27.32, and during the day (based on 14 day Average True Range), to move between $26.44 and $27.76, which gives a possible trading interval of +/-$0.664 (+/-2.45%) up or down from last closing price. If North American Construction Group Ltd. takes out the full calculated possible swing range there will be an estimated 4.90% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $28.31, some $1.21 (4.46%) from the current price of $27.10, our system finds the risk reward not very attractive.

Is North American Construction Group Ltd. stock A Buy?

North American Construction Group Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for North American Construction Group Ltd. of Tuesday, May 21, 2024

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