Northland Power Inc. Stock Forecast

Northland Power Inc. stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)

NPIFF Signals & Forecast

There are few to no technical positive signals at the moment. The Northland Power Inc. 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 $17.25 and $17.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.86%. 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 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, April 26, 2024 with a target of $16.63. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Northland Power Inc. stock

Northland Power Inc. finds support from accumulated volume at $16.61 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 0.491%

Our recommended stop-loss: $16.45 (-4.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (NPIFF) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Northland Power Inc. to open at $17.21, and during the day (based on 14 day Average True Range), to move between $16.96 and $17.46, which gives a possible trading interval of +/-$0.246 (+/-1.43%) up or down from last closing price. If Northland Power Inc. takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.41 (1.16%) than the support at $16.61 (3.49%), 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 Northland Power Inc. stock A Buy?

Northland Power Inc. 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 Northland Power Inc. of Wednesday, July 3, 2024

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