North West Company Inc. Stock Forecast
Stronger technical forecast for North West Company Inc. stock price after Friday trading.
(Updated on May 17, 2024)
The North West Company Inc. stock price fell by -0.772% on the last day (Friday, 17th May 2024) from $38.84 to $38.54. During the last trading day the stock fluctuated 1.33% from a day low at $38.33 to a day high of $38.84. The price has risen in 5 of the last 10 days and is up by 0.13% over the past 2 weeks. Volume has increased on the last day by 31 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 31 thousand shares were bought and sold for approximately $1.20 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.00% during the next 3 months and, with a 90% probability hold a price between $36.60 and $38.69 at the end of this 3-month period.
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NWC.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 0.443%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The North West Company 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 $38.75 and $38.87. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). North West Company Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A buy signal from a double bottom formation was found on Tuesday, May 07, 2024 and based on theory for this formation the price should go up by 2.14% to $39.36 within 24 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for North West Company Inc. stock
North West Company Inc. finds support from accumulated volume at $38.53 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.510 between high and low, or 1.33%. For the last week the stock has had daily average volatility of 0.83%.
Our recommended stop-loss: $36.50 (-5.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (NWC.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect North West Company Inc. to open at $38.57, and during the day (based on 14 day Average True Range), to move between $38.03 and $39.05, which gives a possible trading interval of +/-$0.514 (+/-1.33%) up or down from last closing price. If North West Company Inc. takes out the full calculated possible swing range there will be an estimated 2.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.53 (0.03%) than the resistance at $38.68 (0.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is North West Company Inc. stock A Buy?
North West Company 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 North West Company Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $38.57 ( 0.0778%) | $38.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NWC.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.08 | 1.40 % | |
| R2 | 38.89 | 0.90 % | ||
| R1 | 38.76 | 0.583 % | ||
| Current price: | 38.54 | |||
| Support | S1 | 38.38 | -0.428 % | |
| S2 | 38.25 | -0.740 % | ||
| S3 | 38.06 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.02 | 1.25 % | |
| R2 | 39.01 | 1.22 % | ||
| R1 | 38.68 | 0.363 % | ||
| Current price | 38.54 | |||
| Support | S1 | 38.53 | -0.0259% | |
| S2 | 38.49 | -0.130% | ||
| S3 | 38.37 | -0.441% |
NWC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | Apr 17, 2024 | Apr 29, 2024 | $0.390 | 0.99% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0 | 0% |
| 3 | Sep 12, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.390 | 1.11% |
| 4 | Jun 07, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.380 | 1.19% |
| 5 | Apr 05, 2023 | Apr 14, 2023 | Apr 27, 2023 | $0.380 | 0.95% |
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