Northern Superior Resources Inc. Stock Forecast
Northern Superior Resources Inc. stock price took a fall of -10.77% on Friday
(Updated on May 10, 2024)
The Northern Superior Resources Inc. stock price fell by -10.77% on the last day (Friday, 10th May 2024) from $0.650 to $0.580. During the last trading day the stock fluctuated 8.62% from a day low at $0.580 to a day high of $0.630. The price has fallen in 5 of the last 10 days and is down by -15.94% for this period. Volume has increased on the last day by 216 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, 243 thousand shares were bought and sold for approximately $140.72 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 $0.554 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 44.76% during the next 3 months and, with a 90% probability hold a price between $0.80 and $1.05 at the end of this 3-month period.
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SUP.V Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Northern Superior Resources Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.639 and $0.613. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -15.94%. Further fall is indicated until a new bottom pivot has been found. Northern Superior Resources 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".
Support, Risk & Stop-loss for Northern Superior Resources Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.530 and $0.520. 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, Northern Superior Resources Inc. finds support just below today's level at $0.530. If this is broken, then the next support from accumulated volume will be at $0.520 and $0.510.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0500 between high and low, or 8.62%. For the last week, the stock has had daily average volatility of 5.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SUP.V) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Northern Superior Resources Inc. to open at $0.597, and during the day (based on 14 day Average True Range), to move between $0.540 and $0.620, which gives a possible trading interval of +/-$0.0399 (+/-6.88%) up or down from last closing price. If Northern Superior Resources Inc. takes out the full calculated possible swing range there will be an estimated 13.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.530 (8.62%) than the resistance at $0.630 (8.62%), 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 Superior Resources Inc. stock A Buy?
The Northern Superior Resources Inc. stock holds several negative signals and despite the positive trend, we believe Northern Superior Resources Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.601 Strong Sell Candidate Downgraded
Predicted Opening Price for Northern Superior Resources Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.597 ( 2.87%) | $0.580 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUP.V
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.647 | 11.49 % | |
| R2 | 0.628 | 8.20 % | ||
| R1 | 0.616 | 6.17 % | ||
| Current price: | 0.580 | |||
| Support | S1 | 0.578 | -0.420 % | |
| S2 | 0.566 | -2.45 % | ||
| S3 | 0.547 | -5.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.650 | 12.07 % | |
| R2 | 0.640 | 10.34 % | ||
| R1 | 0.630 | 8.62 % | ||
| Current price | 0.580 | |||
| Support | S1 | 0.530 | -8.62% | |
| S2 | 0.520 | -10.34% | ||
| S3 | 0.510 | -12.07% |
SUP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 28, 1999 | Oct 28, 1999 | Oct 28, 1999 | $6.00 | 100.00% |
| 2 | Jul 29, 1999 | Jul 29, 1999 | Jul 29, 1999 | $6.00 | 150.00% |
| 3 | Apr 29, 1999 | Apr 29, 1999 | Apr 29, 1999 | $6.00 | 100.00% |
| 4 | Jan 28, 1999 | Jan 28, 1999 | Jan 28, 1999 | $5.34 | 89.00% |
| 5 | Oct 29, 1998 | Oct 29, 1998 | Oct 29, 1998 | $5.34 | 66.75% |
FAQ
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