Ncondezi Energy Limited Stock Analysis
Technical stock analysis for 22 January 2019
No changes to the price of Ncondezi Energy Limited in the last trading day. The price has fallen in 4 of the last 10 days and is down by -3.15% for this period.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the NCCL.L stock was £6.15.
During day the stock fluctuated 0.00% from a day low at £6.15 to a day high of £6.15.
30 day high of the NCCL.L stock price was £6.90 and low was £4.90.
90 day high was £8.10 and low was £4.55.
52 week high for the Ncondezi Energy Limited - £10.13 and low - £3.93.
Ncondezi Energy Limited lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £6.49 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.35% during the next 3 months and, with 90% probability hold a price between £3.64 and £5.69 at the end of this period.
Ncondezi Energy Limited holds buy signals from both short- and long-term moving averages. In addition, 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 £6.14 and £5.59. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday January 21, 2019, which indicates further gains 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. 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.
Relative Strength Index (RSI)
RSI14 is 55 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £5.75 and £5.45.
There is 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, Ncondezi Energy Limited finds support just below today's level at £5.75. If this is broken, then the next support from accumulated volume will be at £5.45 and £5.20.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.00 between high and low, or 0.00%. For the last week the stock has had a daily average volatility of 5.96%.
Our recommended stoploss: £5.79 (-5.90%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 1 days ago.)
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Ncondezi Energy Limited holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.