It’s Better To Be Early Than Late: Nordic American Tankers Limited (NAT), Canopy Growth Corporation (CGC)

Nordic American Tankers Limited (NYSE:NAT) has its shares advanced by 1.98% or $-0.08 from its all-time high of $4.05, with NAT attaining that price back on October 11, 2019. The surge in the price of the shares saw it stand at $4.13 per share. NAT has been trading at a low of $1.66 over the past one year but it surged by 148.8% or $2.47 to reach the $4.13 mark. Following the massive rise in stock price, NAT received more attention from investors and analysts. On Sunday, the stock plunged by 7.55%, which caused investors and analysts to excite about it. Following the plunge in price, the NAT beta stands at 0.32, implying that its volatility level has gone down by 0.68 back of the general market. A look at the stock’s 200-day moving average shows that it is 94.16% above while its 50-day moving average shows that it is currently 97.57% above. Compared to 8.83% average daily volatility of past month, the stock’s average volatility for this week has increased by 5.8 as the volatility level currently stands at 14.63%.

Over the past seven days, the stock has witnessed a price surge by 48.03%. This massive rise in stock price has caught the attention of both investors and market traders. The stock has performed excellently over the past 52 weeks, rising by 86.88% during that time frame and is now up by 106.5% since this point this year. NAT has surged by 106.5% over the past 30 days, with its equity price gaining% of its value over the past ninety days. These figures add up to see the stock record a growth of 98.56% over the past six months.

The stock’s technical analysis reveals that its 14-day Relative Strength Index (RSI) is currently in a overbought position as it was able to attain 91.98 points. The trading volume now standing at 11544257 shares. The increase of 9424257 shares in trading volume shows that traders and investors have shown more interest in the stock over the past few weeks. During that trading session, the average trading volume of NAT was 2120000 shares, which is more than 5.45 times higher than its usual trading volume.

Canopy Growth Corporation has seen its stock (NYSE:CGC) plunge by $-0.99 or -4.85% to currently trade at $19.43. This fall in the price of the stock has seen it establish a strong support at $18.83 a share. If the stock price is to drop below that support level, then it would be followed by a bearish trend. A slip below $18.24 would be bad for CGC as it would mean that the stock has lost 6.12% of its value. The stock going in the opposite direction and breaking past the resistance point to reach $20.45 would see it surge even higher. CGC would attempt to surge past the upward resistance point which is set at $21.48 a share. CGC has an average volatility of 6.11% over the past 30 days, while it has gained -5.1% of its value compared to its 52-weeks low point which stands at $20.42 on Oct 11, 2019. In the same breath, CGC has lost 0.87% compared to its 52-weeks high point which currently stands at $19.26 a share reached on Oct 16, 2018.

Analysts have set a 1-year price target for this stock, with most of them expecting it to reach $35.13/share over the next 12 months. If that happens, then CGC would witness a 80.8% rise from its current price. The price of the stock has been moving between $19.26 and $20.88. Not all analysts believe it would hit that target though, as some of them expect it to trade lower, as low as $18.82 per share. In the same breath, one analyst believes that the stock is set to soar even higher than expected, as the price target was set at $52.51.

The stock has an average rating of 0 which means that it has been rated as a Buyby most analysts. The stock is being covered by 16 analysts who gave a consensus recommendation of 0 which implies that it is currently in a bull/bear situation. Reuters looked into analysts covering Canopy Growth Corporation, and 7 of them believe that the stock is a Hold at the moment. 9 of the analysts rated it as a Buy or a Strong Buy while the remaining analysts (0) rated it as a sell at the moment.