Ncino Inc. Stock Forecast
Ncino Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Ncino Inc. stock price fell by -1.14% on the last day (Friday, 19th Apr 2024) from $29.75 to $29.41. During the last trading day the stock fluctuated 2.15% from a day low at $29.37 to a day high of $30.00. The price has fallen in 6 of the last 10 days and is down by -14.03% 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 -172 thousand shares and in total, 811 thousand shares were bought and sold for approximately $23.86 million.
The stock lies in the lower part of a very 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 $29.00 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 3.31% during the next 3 months and, with a 90% probability hold a price between $29.96 and $38.92 at the end of this 3-month period.
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NCNO Signals & Forecast
There are few to no technical positive signals at the moment. The Ncino 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 $30.77 and $31.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -21.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ncino Inc. stock
Ncino Inc. finds support from accumulated volume at $29.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.630 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 3.25%.
Ncino Inc. is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $27.45 (-6.66%) (This stock has high daily movements and this gives high risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (NCNO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ncino Inc. to open at $29.59, and during the day (based on 14 day Average True Range), to move between $28.18 and $30.64, which gives a possible trading interval of +/-$1.23 (+/-4.18%) up or down from last closing price. If Ncino Inc. takes out the full calculated possible swing range there will be an estimated 8.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.35 (0.20%) than the resistance at $30.45 (3.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ncino Inc. stock A Buy?
Ncino Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.874 Hold/Accumulate Upgraded
Predicted Opening Price for Ncino Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $29.59 ( 0.623%) | $29.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCNO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.22 | 2.77 % | |
| R2 | 29.98 | 1.95 % | ||
| R1 | 29.83 | 1.44 % | ||
| Current price: | 29.41 | |||
| Support | S1 | 29.35 | -0.195 % | |
| S2 | 29.20 | -0.700 % | ||
| S3 | 28.96 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.90 | 22.07 % | |
| R2 | 35.35 | 20.20 % | ||
| R1 | 30.45 | 3.54 % | ||
| Current price | 29.41 | |||
| Support | S1 | 29.35 | -0.204% | |
| S2 | 28.42 | -3.37% | ||
| S3 | 28.40 | -3.43% |
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