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SID - National Steel Company Mon 27'th Feb 2017

Industry: Steel & Iron Sector: Basic Materials
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Buy Candidate

Score: 3.71

#1489 of 5165
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Score:
Accuracy: 94.29%
Risk: Medium
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Stock analysis for Mon 27'th Feb 2017 (Updated daily)

Buy candidate since 2017-02-27

National Steel Company Stock Analysis


National Steel Company gained 2.88% in the last trading day, rising from USD 3.82 to USD 3.93. The price has been going up and down for this period, and there has been a 0.77% gain for the last 2 weeks. Volume fell in the last day by -0.74 million shares and ,in total, 1.06 million shares bought and sold for approximately USD 4.16 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Trend

National Steel Company lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.9% during the next 3 months and, with 90% probability hold a price between USD 4.10 and USD 5.16 at the end of this period.

Signals

Only positive signals in the chart today. National Steel Company holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 3.97. On a fall, the stock will find some support from the long-term average at approximately USD 3.81. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Friday February 24, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

The stock had a Golden Star Signal* on Friday December 23, 2016 in the mediumterm chart.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Relative Strength Index (RSI)

RSI14 is 66 and the stock is currently not being overbought or oversold

Support & Resistance

National Steel Company finds support from accumulated volume at USD 3.82, USD 3.54, and USD 3.53. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 4.02, USD 3.98 and USD 4.11.

The stock is about to test the resistance from accumulated volume at USD 4.02 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

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 USD 0.14 between high and low, or 3.66%. For the last week, the stock has had a daily average volatility of 4.37%.

Our recommended stoploss: USD 3.76 (-4.33%) ( criteria: risk and position in trend)

Evaluation

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate


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