Nortech Systems Incorporated Stock Forecast

Stronger technical forecast for Nortech Systems Incorporated stock price after Wednesday trading.
(Updated on Apr 24, 2024)

NSYS Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -0.685%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Nortech Systems Incorporated 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 $16.77 and $13.97. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Nortech Systems Incorporated stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.82 and $14.24. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nortech Systems Incorporated finds support just below today's level at $15.82. If this is broken, then the next support from accumulated volume will be at $14.24 and $13.40.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.385 between high and low, or 2.23%. For the last week the stock has had daily average volatility of 4.05%.

Our recommended stop-loss: $16.84 (-3.14%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (NSYS) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Nortech Systems Incorporated to open at $17.43, and during the day (based on 14 day Average True Range), to move between $16.62 and $18.16, which gives a possible trading interval of +/-$0.773 (+/-4.45%) up or down from last closing price. If Nortech Systems Incorporated takes out the full calculated possible swing range there will be an estimated 8.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.51 (0.69%) than the support at $15.82 (9.03%), 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 Nortech Systems Incorporated stock A Buy?

Nortech Systems Incorporated holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.410 Strong Buy Candidate Upgraded

Predicted Opening Price for Nortech Systems Incorporated of Thursday, April 25, 2024

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