- NRT SHARE PRICE IS HEADING TOWARDS TO ITS 52 WEEK LOW LEVELS.
- NRT STOCK IS TRADING IN A CHANNEL FROM MORE THAN A YEAR .
- NRT STOCK PRICE DECLINED ( – 7.19 % ) IN A WEEK .
MARKET CAPITAL OF NRT – $ 102 .01 M
CURRENT MARKET PRICE OF NRT – $ 11.10
North european oil royalty trust ( NRT ) is currently an underperforming stock since one year as the price of the stock is not showing any major momentum on either side. The stock is trading in a channel where the highs and lows are interconnected to each other as they are forming a trendline.
The stock is consolidating in a channel from an year indicates that either the stock is under the control of an operator or either the investors or traders are not interested in this stock,
The revenue and income of the company is increasing significantly on the higher side but the only concern for the company as of now is the rise in debts of the company as the debt on the company raised 410 % last year which is a matter of concern. But the EPS of the company is rising at a good pace and it is expected that this year the company can double the EPS.
The price is trading near to the support area which is near to the level $10.64 to $ 9.92 and as the price is trading in a channel so we can see some upside near to this level.
The stock formed a gap near the price $ 15.15 which can act as a resistance point along with the trendline resistance present at $ 15.42 level.
CAN A PRICE GO UP FROM THESE LEVEL?
On hourly time frames also the price is forming a downward sloping trendline which will act as a major hurdle for the stock to cross, the support is present at $ 10.56 and $ 10.68 levels and the price is currently moving positively from that level which is a good sign for the buyers.
The resistance is placed near to the previous swing high at $ 12.20 and second resistance is at 13.88 levels. The stock is currently making a strong bullish candle which indicates that the buyers are making their ways in the stock.
https://www.tradingview.com/chart/ruBma0Io/?symbol=NSE%3ABANKNIFTY
CONCLUSION :-
As the financials of the company are getting stronger the price can try to go up for a longer time period and for the swing trader the favorable condition for buying will meet once the price breaks the trendline on 1 hour time period.
The stock showed good momentum in previous and now consolidating in a range and it can be a preparation for the next up move.
TECHNICAL LEVELS :-
RESISTANCE – $ 12. 20
SUPPORT – $ 10.68
PAST PERFORMANCE :-
1 WEEK – ( -7.19 ) %
1 MONTH – ( -11.97) %
1 YEAR – (-29.52 )%
DISCLAIMER-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
