Novo Integrated Sciences, Inc. Stock Forecast
Red day on Tuesday for Novo Integrated Sciences, Inc.
(Updated on Jul 02, 2024)
The Novo Integrated Sciences, Inc. stock price fell by -2.05% on the last day (Tuesday, 2nd Jul 2024) from $0.777 to $0.761. During the last trading day the stock fluctuated 7.53% from a day low at $0.732 to a day high of $0.787. The price has fallen in 6 of the last 10 days and is down by -11.05% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -129 thousand shares and in total, 393 thousand shares were bought and sold for approximately $298.70 thousand.
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 $0.612 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 48.53% during the next 3 months and, with a 90% probability hold a price between $0.91 and $2.06 at the end of this 3-month period.
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NVOS Signals & Forecast
The Novo Integrated Sciences, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.773. On a fall, the stock will find some support from the long-term average at approximately $0.744. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, June 03, 2024, and so far it has fallen -38.63%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Novo Integrated Sciences, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.676 and $0.611. 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, Novo Integrated Sciences, Inc. finds support just below today's level at $0.676. If this is broken, then the next support from accumulated volume will be at $0.611 and $0.585.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0551 between high and low, or 7.53%. For the last week the stock has had daily average volatility of 10.88%.
Our recommended stop-loss: $0.713 (-6.28%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (NVOS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Novo Integrated Sciences, Inc. to open at $0.760, and during the day (based on 14 day Average True Range), to move between $0.638 and $0.88, which gives a possible trading interval of +/-$0.123 (+/-16.21%) up or down from last closing price. If Novo Integrated Sciences, Inc. takes out the full calculated possible swing range there will be an estimated 32.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.676 (11.24%) than the resistance at $0.86 (13.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Novo Integrated Sciences, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Novo Integrated Sciences, Inc. stock to perform well in the short-term.
Current score: 2.708 Buy Candidate Unchanged
Predicted Opening Price for Novo Integrated Sciences, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.760 ( 0.127%) | $0.761 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVOS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.82 | 7.11% |
| R2 | 0.794 | 4.35% |
| R1 | 0.781 | 2.64% |
| Price | 0.761 | |
| S1 | 0.739 | -2.89% |
| S2 | 0.726 | -4.60% |
| S3 | 0.705 | -7.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.93 | 22.25% |
| R2 | 0.89 | 17.41% |
| R1 | 0.86 | 13.48% |
| Price | 0.761 | |
| S1 | 0.676 | -11.24% |
| S2 | 0.611 | -19.71% |
| S3 | 0.585 | -23.10% |
FAQ
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