Northern Shield Resources Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Tuesday for Northern Shield Resources Inc.
(Updated on Jun 25, 2024)
No changes to the price of Northern Shield Resources Inc. stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0450 to a day high of $0.0450. The price has been going up and down for this period, and there has been a -10% loss for the last 2 weeks.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0407 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.44% during the next 3 months and, with a 90% probability hold a price between $0.0462 and $0.0739 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NRN.V Signals & Forecast
There are mixed signals in the stock today. The Northern Shield Resources Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0477. On a fall, the stock will find some support from the short-term average at $0.0443. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, June 24, 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.
A sell signal from a double top formation was found on Monday, May 27, 2024 with a target of $0.0500. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
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 $0.0400 and $0.0350. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0350 may give a huge drop in the stock price.
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: $0.0430 (-4.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (NRN.V) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Northern Shield Resources Inc. to open at $0.0450, and during the day (based on 14 day Average True Range), to move between $0.0432 and $0.0468, which gives a possible trading interval of +/-$0.0018 (+/-3.92%) 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 7.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0400 (11.11%) than the resistance at $0.0500 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0450 ( 0.00000000%) | $0.0450 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRN.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0450 | 0.00000000% |
| R2 | 0.0450 | 0.00000000% |
| R1 | 0.0450 | 0.00000000% |
| Price | 0.0450 | |
| S1 | 0.0450 | 0.00000000% |
| S2 | 0.0450 | 0.00000000% |
| S3 | 0.0450 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0550 | 22.22% |
| R1 | 0.0500 | 11.11% |
| Price | 0.0450 | |
| S1 | 0.0400 | -11.11% |
| S2 | 0.0350 | -22.22% |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Northern Shield Resources Inc. Stock.
