NovaCopper Inc Forecast and Stock Analysis
Technical TMQ stock analysis for Tuesday May 21, 2019.
|Shorts||1.30% ( 2019-04-15 )|
|Price to book||USD 11.19|
|Next Earnings Date||2019-07-09|
No changes to the price of NovaCopper Inc in the last trading day ( Tuesday, 21st May 2019 ). During day the stock fluctuated 2.00% from a day low at $2.50 to a day high of $2.55. The price has risen in 4 of the last 10 days and is up by 2% over the past 2 weeks.
- 30 day high of the TMQ stock price was $2.82 and low was $2.29.
- 90 day high was $2.82 and low was $2.05.
- 52 week high for the NovaCopper Inc - $2.82 and low - $1.24.
NovaCopper Inc 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 10.81% during the next 3 months and, with 90% probability hold a price between $2.73 and $3.21 at the end of this period.
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 $2.52 and $2.54. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday May 20, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
NovaCopper Inc finds support from accumulated volume at $2.53.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $2.45 (-3.85%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
5.09 %Average volatility
Very Low Low Medium High Very High
NovaCopper Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.
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|TMQ $2.55 ($0.00 0.00%)|
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