Abu Dhabi National Hotels Company PJSC Stock Forecast
Abu Dhabi National Hotels Company PJSC stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 13, 2024)
The Abu Dhabi National Hotels Company PJSC stock price gained 0.176% on the last trading day (Thursday, 13th Jun 2024), rising from $0.569 to $0.570. During the last trading day the stock fluctuated 2.30% from a day low at $0.565 to a day high of $0.578. The price has been going up and down for this period, and there has been a -5% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately $11.10 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.568 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.01% during the next 3 months and, with a 90% probability hold a price between $0.511 and $0.554 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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ADNH.UH Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 0.176%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Abu Dhabi National Hotels Company PJSC 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 $0.584 and $0.610. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Abu Dhabi National Hotels Company PJSC stock
Abu Dhabi National Hotels Company PJSC finds support from accumulated volume at $0.569 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0130 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 1.72%.
Abu Dhabi National Hotels Company PJSC is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $0.532 (-6.71%) (This stock has low daily movements and this gives low risk. Low RSI14 is 14 which reduces the risk some. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (ADNH.UH) For The Upcoming Trading Day Of Sunday 16th
For the upcoming trading day on Sunday, 16th we expect Abu Dhabi National Hotels Company PJSC to open at $0.571, and during the day (based on 14 day Average True Range), to move between $0.559 and $0.581, which gives a possible trading interval of +/-$0.0108 (+/-1.89%) up or down from last closing price. If Abu Dhabi National Hotels Company PJSC takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.569 (0.18%) than the resistance at $0.610 (7.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Abu Dhabi National Hotels Company PJSC stock A Buy?
Abu Dhabi National Hotels Company PJSC 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.295 Hold/Accumulate Upgraded
Predicted Opening Price for Abu Dhabi National Hotels Company PJSC of Sunday, June 16, 2024
| Fair opening price June 16, 2024 | Current price |
|---|---|
| $0.571 ( 0.175%) | $0.570 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADNH.UH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.584 | 2.46% |
| R2 | 0.579 | 1.58% |
| R1 | 0.576 | 1.05% |
| Price | 0.570 | |
| S1 | 0.566 | -0.696% |
| S2 | 0.563 | -1.23% |
| S3 | 0.558 | -2.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.647 | 13.51% |
| R2 | 0.630 | 10.53% |
| R1 | 0.610 | 7.02% |
| Price | 0.570 | |
| S1 | 0.569 | -0.175% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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