Fri 16'th Nov 2018
Next Gen Metals Inc Stock Analysis
Technical stock analysis for Fri 16'th Nov 2018
Next Gen Metals Inc fell by -6.61% in the last day from $1.21 to $1.13 The price has fallen in 6 of the last 10 days and is down by -17.52% for this period. Volume has increased in the last day by 45 481 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 814 204 shares bought and sold for approximately $920 050.00.
Next Gen Metals Inc lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $0.93 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -16.72% during the next 3 months and, with 90% probability hold a price between $0.77 and $2.14 at the end of this period.
There are few to none technical positive signals at the moment. Next Gen Metals Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $1.24 and $1.52. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday November 15, 2018, which indicates further falls until a new bottom pivot has been found. Next Gen Metals 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-off's".
Relative Strength Index (RSI)
RSI14 is 38 and the stock is currently not being overbought or oversold
Support & Resistance
Next Gen Metals Inc finds support from accumulated volume at $1.12.
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 $0.12 between high and low, or 10.62%. For the last week, the stock has had a daily average volatility of 13.16%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Next Gen Metals Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Strong Sell Candidate.
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