Newbury Street Acquisition Corporation Stock Forecast
Evaluation of Newbury Street Acquisition Corporation stock downgraded after the last trading session.
(Updated on Jun 21, 2024)
No changes to the price of Newbury Street Acquisition Corporation stock on the last trading day (Friday, 21st Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $10.93 to a day high of $10.93. The price has risen in 6 of the last 10 days and is up by 0.55% over the past 2 weeks.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $10.94 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Newbury Street Acquisition Corporation stock with a 90% probability to be traded between $10.91 and $11.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NBST Signals & Forecast
The Newbury Street Acquisition Corporation 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 $10.90 and $10.85. 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 Thursday, June 20, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Newbury Street Acquisition Corporation stock
Newbury Street Acquisition Corporation finds support from accumulated volume at $10.84 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.240%
Our recommended stop-loss: $10.52 (-3.72%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (NBST) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Newbury Street Acquisition Corporation to open at $10.93, and during the day (based on 14 day Average True Range), to move between $10.88 and $10.98, which gives a possible trading interval of +/-$0.0508 (+/-0.46%) up or down from last closing price. If Newbury Street Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 0.93% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.84, some $0.0900 (0.82%) from the current price of $10.93, our system finds the risk reward attractive.
Is Newbury Street Acquisition Corporation stock A Buy?
Newbury Street Acquisition Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Newbury Street Acquisition Corporation of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$10.93 ( 0%) | $10.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NBST
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.93 | - |
R2 | 10.93 | - |
R1 | 10.93 | - |
Price | 10.93 | |
S1 | 10.93 | - |
S2 | 10.93 | - |
S3 | 10.93 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 10.93 | |
S1 | 10.84 | -0.82% |
S2 | 10.81 | -1.10% |
S3 | 10.75 | -1.65% |
FAQ
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