RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of NVFY
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Big movements in Nova Lifestyle stock price on Wednesday moving 17.60% between high and low
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 21, 2024 Gain 54.59% PDF

The Nova Lifestyle stock price gained 4.00% on the last trading day (Wednesday, 27th Mar 2024), rising from $2.75 to $2.86. During the last trading day the stock fluctuated 17.60% from a day low at $2.67 to a day high of $3.14. The price has fallen in 5 of the last 10 days but is still up by 74.39% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 214 thousand shares were bought and sold for approximately $610.72 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $2.96 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -36.05% during the next 3 months and, with a 90% probability hold a price between $0.85 and $1.89 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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NVFY Signals & Forecast

The Nova Lifestyle stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.35 and $1.91. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -5.92%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Nova Lifestyle stock

Nova Lifestyle finds support from accumulated volume at $2.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.470 between high and low, or 17.60%. For the last week the stock has had daily average volatility of 24.35%.

The Nova Lifestyle stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $2.72 (-4.98%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (NVFY) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Nova Lifestyle to open at $2.89, and during the day (based on 14 day Average True Range), to move between $2.51 and $3.21, which gives a possible trading interval of +/-$0.354 (+/-12.38%) up or down from last closing price. If Nova Lifestyle takes out the full calculated possible swing range there will be an estimated 24.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.91 (1.75%) than the support at $2.79 (2.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Nova Lifestyle stock A Buy?

Nova Lifestyle holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.953 Hold/Accumulate Unchanged

Predicted Opening Price for Nova Lifestyle of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$2.89 ( 1.05%) $2.86

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

Trading levels for NVFY

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 3.36 17.48 %
R2 3.18 11.20 %
R1 3.07 7.33 %
Current price: 2.86
Support S1 2.71 -5.23 %
S2 2.60 -9.11 %
S3 2.42 -15.38 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 3.20 11.89 %
R2 3.04 6.29 %
R1 2.91 1.75 %
Current price 2.86
Support S1 2.79 -2.45%
S2 2.75 -3.85%
S3 2.34 -18.18%

FAQ

What is the symbol for Nova Lifestyle Stock and on which exchange is it traded?
The symbol for Nova Lifestyle is NVFY and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Nova Lifestyle Stock?
Nova Lifestyle holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy Nova Lifestyle Stock?
Nova Lifestyle Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Nova Lifestyle Stock.

What's the current price of Nova Lifestyle Stock?
As of the end of day on the 2024-03-27, the price of an Nova Lifestyle (NVFY) share was $2.86.

What is the 52-week high and low for Nova Lifestyle Stock?
The 52-week high for Nova Lifestyle Stock is $6.38 and the 52-week low is $0.430.

What is the market capitalization of Nova Lifestyle Stock?
As of the 2024-03-27, the market capitalization of Nova Lifestyle is 4.496M.

When is the next earnings date for Nova Lifestyle?
The upcoming earnings date for Nova Lifestyle is Apr 15, 2024.
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About Nova Lifestyle

Nova Lifestyle Nova LifeStyle, Inc., through its subsidiaries, designs, manufactures, markets, and sells residential and commercial furniture for middle and upper middle-income consumers worldwide. The company offers upholstered, wood, and metal-based furniture pieces for the living, dining, and bedrooms, as well as home offices. Its products include sofas, chairs, dining and coffee tables, beds, entertainment consoles, cabinets, and cupboards. The company also... NVFY Profile

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