Northern Shield Resources Inc. Stock Forecast

Northern Shield Resources Inc. stock price down 0% on Friday
(Updated on Jun 14, 2024)

NRN.V Signals & Forecast

The Northern Shield Resources 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 $0.0500 and $0.0479. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Monday, May 27, 2024, and so far it has fallen -16.67%. 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).

Support, Risk & Stop-loss for Northern Shield Resources Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0450 and $0.0400. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0400 may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". 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: $0.0469 (-6.17%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (NRN.V) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Northern Shield Resources Inc. to open at $0.0500, and during the day (based on 14 day Average True Range), to move between $0.0482 and $0.0518, which gives a possible trading interval of +/-$0.0018 (+/-3.56%) up or down from last closing price. If Northern Shield Resources Inc. takes out the full calculated possible swing range there will be an estimated 7.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0550 (10.00%) than the support at $0.0450 (10.00%), 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 Northern Shield Resources Inc. stock A Buy?

Northern Shield Resources 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 Northern Shield Resources Inc. of Monday, June 17, 2024

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