Ncino Inc. Stock Forecast
Stronger technical forecast for Ncino Inc. stock price after Wednesday trading.
(Updated on Jul 03, 2024)
The Ncino Inc. stock price fell by -0.699% on the last day (Wednesday, 3rd Jul 2024) from $31.48 to $31.26. During the last trading day the stock fluctuated 1.06% from a day low at $31.26 to a day high of $31.59. The price has fallen in 7 of the last 10 days and is down by -0.73% 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 -250 thousand shares and in total, 566 thousand shares were bought and sold for approximately $17.70 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $31.76 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.23% during the next 3 months and, with a 90% probability hold a price between $28.01 and $31.06 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NCNO Signals & Forecast
The Ncino Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $31.40. On a fall, the stock will find some support from the long-term average at approximately $31.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 15, 2024, and so far it has fallen -2.77%. Further fall is indicated until a new bottom pivot has been found. 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 $30.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.330 (1.06%) between high and low. For the last week, the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $29.59 (-5.33%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (NCNO) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Ncino Inc. to open at $31.37, and during the day (based on 14 day Average True Range), to move between $30.56 and $31.96, which gives a possible trading interval of +/-$0.702 (+/-2.25%) up or down from last closing price. If Ncino Inc. takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.69 (1.38%) than the support at $30.53 (2.34%), 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 Ncino Inc. stock A Buy?
Ncino Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.675 Hold/Accumulate Upgraded
Predicted Opening Price for Ncino Inc. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $31.37 ( 0.352%) | $31.26 |
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 | |
|---|---|---|
| R3 | 31.70 | 1.41% |
| R2 | 31.57 | 1.00% |
| R1 | 31.50 | 0.755% |
| Price | 31.26 | |
| S1 | 31.24 | -0.0514% |
| S2 | 31.17 | -0.301% |
| S3 | 31.04 | -0.704% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.13 | 12.38% |
| R2 | 33.36 | 6.72% |
| R1 | 31.69 | 1.38% |
| Price | 31.26 | |
| S1 | 30.53 | -2.34% |
| S2 | 30.11 | -3.68% |
| S3 | 29.94 | -4.22% |
FAQ
Click here for our free guide on how to buy Ncino Inc. Stock.
