SID - National Steel Company

Industry: Steel & Iron Sector: Basic Materials

Tue 23'rd May 2017

2017-02-24 - 2017-05-23
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National Steel Company Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Hold candidate since 2017-05-22 Gain 1.43%

National Steel Company gained 1.43% in the last trading day, rising from USD 2.10 to USD 2.13 The price has risen in 5 of the last 10 days , but is still down by -6.58% for this period. Volume fell in the last day by -1.02 million shares, and in total, 2.06 million shares bought and sold for approximately USD 4.39 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.


National Steel Company lies in the middle of a very wide and strong 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 -43.5% during the next 3 months and, with 90% probability hold a price between USD 0.86 and USD 1.32 at the end of this period.


A buy signal was issued from a pivot bottom point on Thursday May 18, 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. National Steel Company 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 USD 2.22 and USD 2.40. A break-up above any of these levels will issue buy signals.

Relative Strength Index (RSI)

RSI14 is 42 and the stock is currently not being overbought or oversold

Support & Resistance

National Steel Company finds support from accumulated volume at USD 2.10, USD 1.91. On the upside the stock meets some resistance from accumulated volume at USD 2.49, USD 2.37 and USD 2.34.


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 0.11 between high and low, or 5.31%. For the last week, the stock has had a daily average volatility of 8.93%.

Our recommended stoploss: USD 2.04 (-4.41%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)


National Steel Company holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development.


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