Next Gen Metals Inc Forecast and Stock Analysis
Technical NXTTF stock analysis for February 15, 2019.
Next Gen Metals Inc gained 5.28% in the last trading day, rising from $0.77 to $0.81 The price has fallen in 6 of the last 10 days and is down by -22.12% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 549 693 more shares were traded than the day before. In total, 549 693 shares bought and sold for approximately $445 251.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the NXTTF stock was $0.81. This is 5.28% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 8.10% from a day low at $0.76 to a day high of $0.82.
30 day high of the NXTTF stock price was $1.20 and low was $0.68.
90 day high was $1.27 and low was $0.55.
52 week high for the Next Gen Metals Inc - $3.05 and low - $0.55.
Next Gen Metals Inc lies in the middle of a very wide and 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 -6.49% during the next 3 months and, with 90% probability hold a price between $0.50 and $1.13 at the end of this period.
A buy signal was issued from a pivot bottom point on Wednesday February 13, 2019, which indicates further gains until a new top pivot has been found. Next Gen Metals Inc has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Next Gen Metals Inc holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.93. On a fall, the stock will find some support from the short-term average at $0.79. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 24 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Next Gen Metals Inc finds support from accumulated volume at $0.79.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.06 between high and low, or 8.10%. For the last week, the stock has had a daily average volatility of 7.39%.
Next Gen Metals Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Next Gen Metals Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.