Newbury Street Acquisition Corporation Stock Forecast
Red day on Monday for Newbury Street Acquisition Corporation stock after losing 0%
(Updated on Jun 24, 2024)
No changes to the price of Newbury Street Acquisition Corporation stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0550 to a day high of $0.0550. The price has been going up and down for this period, and there has been a -8.33% loss for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.59% during the next 3 months and, with a 90% probability hold a price between $0.0293 and $0.0868 at the end of this 3-month period.
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NBSTW Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has fallen 0%. 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 Newbury Street Acquisition Corporation 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 $0.0550 and $0.0702. 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 very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, April 12, 2024 and based on theory for this formation the price should fall by -41.82% to $0.0320 within 2 trading days since signal was issued (Tuesday, April 16, 2024).
Support, Risk & Stop-loss for Newbury Street Acquisition Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0511 and $0.0510. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Newbury Street Acquisition Corporation finds support just below today's level at $0.0511. If this is broken, then the next support from accumulated volume will be at $0.0510 and $0.0423.
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%
Our recommended stop-loss: $0.0516 (-6.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (NBSTW) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Newbury Street Acquisition Corporation to open at $0.0550, and during the day (based on 14 day Average True Range), to move between $0.0436 and $0.0664, which gives a possible trading interval of +/-$0.0114 (+/-20.67%) 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 41.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0585 (6.36%) than the support at $0.0511 (7.09%), 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 Newbury Street Acquisition Corporation stock A Buy?
Newbury Street Acquisition Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
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 Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.0550 ( 0%) | $0.0550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NBSTW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0550 | - |
| R2 | 0.0550 | - |
| R1 | 0.0550 | - |
| Price | 0.0550 | |
| S1 | 0.0550 | - |
| S2 | 0.0550 | - |
| S3 | 0.0550 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0659 | 19.82% |
| R2 | 0.0600 | 9.09% |
| R1 | 0.0585 | 6.36% |
| Price | 0.0550 | |
| S1 | 0.0511 | -7.09% |
| S2 | 0.0510 | -7.27% |
| S3 | 0.0423 | -23.13% |
FAQ
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