Thursday October 17, 2019 Change 7.36% Price $1.75
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VOLUME
Buy
TREND
Sell
MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

TMQ Forecast and Technical Stock Analysis


Buy candidate since 2019-10-17 PDF

NovaCopper Inc gained 7.36% in the last trading day ( Thursday, 17th Oct 2019 ), rising from $1.63 to $1.75 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 11.11% from a day low at $1.62 to a day high of $1.80. The price has risen in 6 of the last 10 days and is up by 10.76% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 168 405 more shares were traded than the day before. In total, 232 622 shares bought and sold for approximately $407 088.00.

Quick summary:

  • 30 day high of the TMQ stock price was $1.80 and low was $1.50.
  • 90 day high was $2.47 and low was $1.50.
  • 52 week high for NovaCopper Inc - $3.13 and low - $1.48.
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Trend

NovaCopper Inc 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 $1.80 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 -24.23% during the next 3 months and, with 90% probability hold a price between $0.85 and $1.37 at the end of this period.

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Signals

Only positive signals in the chart today. NovaCopper Inc holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $1.59 and $1.65. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday October 09, 2019, which indicates further gains until a new top pivot has been found. NovaCopper 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.

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Relative Strength Index (RSI)

RSImin/max Values: [ 25 - 75 ]

RSI14 is 57 and the stock is currently not being overbought or oversold

* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $1.62 and $1.58.

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, NovaCopper Inc finds support just below today's level at $1.62. If this is broken, then the next support from accumulated volume will be at $1.58 and $1.52.

Support: $1.62 Price: $1.75 Resistance: $1.83

Risk

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.18 (11.11%) between high and low. For the last week, the stock has had daily average volatility of 5.47%.

Our recommended stop-loss: $1.68 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 6 days ago.)

5.47 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Buy Candidate Upgraded

Evaluation

Several short-term signals are positive, despite the stock being in a falling trend, 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.

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