NACCO Industries Inc Stock Forecast
Evaluation of NACCO Industries Inc stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The NACCO Industries Inc stock price fell by -0.605% on the last day (Tuesday, 2nd Jul 2024) from $28.11 to $27.94. During the last trading day the stock fluctuated 3.15% from a day low at $27.59 to a day high of $28.46. The price has fallen in 5 of the last 10 days and is down by -7.7% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 18 thousand shares were bought and sold for approximately $514.96 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.74 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.68% during the next 3 months and, with a 90% probability hold a price between $29.59 and $36.27 at the end of this 3-month period.
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NC Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 0.98%. 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 NACCO Industries Inc 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 $29.02 and $31.10. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for NACCO Industries Inc stock
NACCO Industries Inc finds support from accumulated volume at $27.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.87 between high and low, or 3.15%. For the last week the stock has had daily average volatility of 3.63%.
NACCO Industries Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect NACCO Industries Inc to open at $28.00, and during the day (based on 14 day Average True Range), to move between $26.93 and $28.95, which gives a possible trading interval of +/-$1.01 (+/-3.61%) up or down from last closing price. If NACCO Industries Inc takes out the full calculated possible swing range there will be an estimated 7.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.74 (0.72%) than the resistance at $31.69 (13.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NACCO Industries Inc stock A Buy?
The NACCO Industries Inc stock holds several negative signals and despite the positive trend, we believe NACCO Industries Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.275 Sell Candidate Downgraded
Predicted Opening Price for NACCO Industries Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $28.00 ( 0.203%) | $27.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.87 | 3.32% |
| R2 | 28.53 | 2.13% |
| R1 | 28.33 | 1.39% |
| Price | 27.94 | |
| S1 | 27.66 | -0.99% |
| S2 | 27.46 | -1.72% |
| S3 | 27.13 | -2.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.22 | 18.90% |
| R2 | 31.90 | 14.17% |
| R1 | 31.69 | 13.42% |
| Price | 27.94 | |
| S1 | 27.74 | -0.716% |
| S2 | 27.67 | -0.97% |
| S3 | 27.54 | -1.43% |
NC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 31, 2024 | Jun 17, 2024 | $0.228 | 0.752% |
| 2 | May 15, 2024 | May 30, 2024 | Jun 17, 2024 | $0.228 | 0.752% |
| 3 | Mar 01, 2024 | Mar 01, 2024 | Mar 15, 2024 | $0.218 | 0.754% |
| 4 | Nov 07, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.218 | 0.631% |
| 5 | Aug 24, 2023 | Sep 01, 2023 | Sep 15, 2023 | $0.220 | 0.671% |
FAQ
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