Nick Scali Limited Stock Forecast
Nick Scali Limited stock price up 2.35% on Thursday
(Updated on May 16, 2024)
The Nick Scali Limited stock price gained 2.35% on the last trading day (Thursday, 16th May 2024), rising from $14.48 to $14.82. During the last trading day the stock fluctuated 3.63% from a day low at $14.33 to a day high of $14.85. The price has risen in 6 of the last 10 days and is up by 1.72% over the past 2 weeks. Volume fell on the last day by -259 thousand shares and in total, 221 thousand shares were bought and sold for approximately $3.27 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nick Scali Limited stock with a 90% probability to be traded between $14.68 and $16.22 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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NCK.AX Signals & Forecast
The Nick Scali Limited 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 $14.76 and $14.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 2.92%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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).
Support, Risk & Stop-loss for Nick Scali Limited stock
Nick Scali Limited finds support from accumulated volume at $14.66 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.520 between high and low, or 3.63%. For the last week, the stock has had daily average volatility of 2.49%.
Our recommended stop-loss: $14.12 (-4.69%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (NCK.AX) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Nick Scali Limited to open at $14.67, and during the day (based on 14 day Average True Range), to move between $14.35 and $15.29, which gives a possible trading interval of +/-$0.472 (+/-3.18%) up or down from last closing price. If Nick Scali Limited takes out the full calculated possible swing range there will be an estimated 6.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.90 (0.54%) than the support at $14.66 (1.08%), 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 Nick Scali Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Nick Scali Limited stock to perform well in the short-term period.
Current score: 4.755 Buy Candidate Unchanged
Predicted Opening Price for Nick Scali Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $14.67 ( 1.03%) | $14.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCK.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.19 | 2.47 % | |
| R2 | 14.99 | 1.13 % | ||
| R1 | 14.87 | 0.306 % | ||
| Current price: | 14.82 | |||
| Support | S1 | 14.47 | -2.37 % | |
| S2 | 14.35 | -3.20 % | ||
| S3 | 14.15 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.85 | 6.95 % | |
| R2 | 15.40 | 3.91 % | ||
| R1 | 14.90 | 0.540 % | ||
| Current price | 14.82 | |||
| Support | S1 | 14.66 | -1.08% | |
| S2 | 14.54 | -1.89% | ||
| S3 | 14.48 | -2.29% |
NCK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Mar 04, 2024 | Mar 26, 2024 | $0.350 | 2.32% |
| 2 | Mar 06, 2023 | Mar 06, 2023 | Mar 06, 2023 | $0.400 | 4.18% |
| 3 | Sep 30, 2022 | Sep 30, 2022 | Sep 30, 2022 | $0.350 | 3.77% |
| 4 | Mar 04, 2022 | Mar 04, 2022 | Mar 04, 2022 | $0.350 | 2.97% |
| 5 | Oct 01, 2021 | Oct 01, 2021 | Oct 01, 2021 | $0.250 | 2.28% |
FAQ
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