New America High Income Fund Inc (The) Stock Forecast

Weaker technical forecast for New America High Income Fund Inc (The) as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)

HYB Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.571%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The New America High Income Fund Inc (The) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.06 and $7.20. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 stock had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for New America High Income Fund Inc (The) stock

New America High Income Fund Inc (The) finds support from accumulated volume at $7.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0250 between high and low, or 0.356%. For the last week the stock has had daily average volatility of 0.81%

New America High Income Fund Inc (The) is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HYB) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect New America High Income Fund Inc (The) to open at $7.04, and during the day (based on 14 day Average True Range), to move between $6.99 and $7.09, which gives a possible trading interval of +/-$0.0529 (+/-0.75%) up or down from last closing price. If New America High Income Fund Inc (The) takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.03 (0.14%) than the resistance at $7.18 (1.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is New America High Income Fund Inc (The) stock A Buy?

New America High Income Fund Inc (The) holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.366 Sell Candidate Downgraded

Predicted Opening Price for New America High Income Fund Inc (The) of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.