Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for March 10 2006
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| STOCK: NORTHERN SUN EXPLORATION (NSE) |
WEBSITE: www.northernsunex.com |
| CURRENT PRICE: 0.61 |
TREND: POSSIBLE TREND REVERSAL |
| TARGET PRICE: N/A |
RECOMMENDATION: SPECULATIVE BUY |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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This Canadian small cap stock has been bleeding for some time, in fact, it has gone through a painful 6 month down fall, with no clear signal on where things may stop. There are some interesting chart signals showing up though, so may be there’s a chance to make some money, since opportunities may have been presented here. Taking a look at the long term chart, you can see the next level of support is around $0.50, which isn’t too far from its current price. An interesting notable is the price to MACD comparison. As the price has continued to fall, the MACD is not getting any lower here, so the worst may be over, and the price may be ready to turn around sometime in the next little while. The cash flows are also showing money starting to come in here, with the value treading water, trying to break into the green. The short term chart magnifies the price to MACD relationship a bit more, and the MACD is pretty much break even here, so something should give sooner rather than later. The negatives need to be pointed out here though, and that is that the price is well below both averages, which is definitely a big red flag here.
Bottom line, this stock is a gamble, since it could continue to fall here, but the MACD is telling us a different story, but its hard to pin point exactly when the turn around may occur, but the odds are for it to occur soon. If you buy in, you should do so in steps, don’t take a complete position at once. Another interesting side note; there has been some insider buying for some time as well, check out CanadianInsider.com and plug in NSE to get a snap shot of recent buys.
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