Volatile ride for Naked Brand Group Inc. stock price on Friday moving between $0.65 and $0.75StockInvest.us, 2 months ago
The Naked Brand Group Inc. stock price gained 15.04% on the last trading day (Friday, 24th Sep 2021), rising from $0.59 to $0.68. During the day the stock fluctuated 15.21% from a day low at $0.65 to a day high of $0.75. The price has fallen in 6 of the last 10 days, but is still up by 11.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 250 million more shares were traded than the day before. In total, 275 million shares were bought and sold for approximately $188.10 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 4.72% during the next 3 months and, with a 90% probability hold a price between $0.55 and $0.80 at the end of this 3-month period.
The Naked Brand Group Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.59 and $0.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, September 20, 2021, and so far it has risen 25.07%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Naked Brand Group Inc. finds support from accumulated volume at $0.67 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0990 between high and low, or 15.21%. For the last week, the stock has had a daily average volatility of 8.56%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Naked Brand Group Inc. stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.Check full Naked Brand Group Inc. forecast and analysis here.