The9 Limited Stock Forecast
The9 Limited stock upgraded to Strong Buy Candidate.
(Updated on Apr 24, 2024)
The The9 Limited stock price gained 3.23% on the last trading day (Wednesday, 24th Apr 2024), rising from $6.51 to $6.72. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.84% from a day low at $6.51 to a day high of $6.89. The price has risen in 7 of the last 10 days and is up by 4.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 35 thousand shares were bought and sold for approximately $236.99 thousand.
The stock lies in the upper part of a very wide and weak rising 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 $7.07 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.45% during the next 3 months and, with a 90% probability hold a price between $5.59 and $7.74 at the end of this 3-month period.
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NCTY Signals & Forecast
The The9 Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.13 and $5.92. A breakdown below any of these levels will issue sell signals. The9 Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Thursday, March 28, 2024, and so far it has fallen -1.03%. 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).
Support, Risk & Stop-loss for The9 Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.95 and $5.82. 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, The9 Limited finds support just below today's level at $5.95. If this is broken, then the next support from accumulated volume will be at $5.82 and $5.38.
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 $0.380 between high and low, or 5.84%. For the last week, the stock has had daily average volatility of 6.32%.
Since the The9 Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $6.46 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (NCTY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect The9 Limited to open at $6.71, and during the day (based on 14 day Average True Range), to move between $6.25 and $7.19, which gives a possible trading interval of +/-$0.471 (+/-7.01%) up or down from last closing price. If The9 Limited takes out the full calculated possible swing range there will be an estimated 14.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.79 (1.04%) than the support at $5.95 (11.46%), 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 The9 Limited stock A Buy?
The9 Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.377 Strong Buy Candidate Upgraded
Predicted Opening Price for The9 Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $6.71 ( 0.198%) | $6.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.09 | 5.46 % | |
| R2 | 6.94 | 3.30 % | ||
| R1 | 6.85 | 1.96 % | ||
| Current price: | 6.72 | |||
| Support | S1 | 6.56 | -2.36 % | |
| S2 | 6.47 | -3.69 % | ||
| S3 | 6.33 | -5.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6.79 | 1.04 % | ||
| Current price | 6.72 | |||
| Support | S1 | 5.95 | -11.46% | |
| S2 | 5.82 | -13.39% | ||
| S3 | 5.38 | -19.94% |
NCTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 21, 2009 | Jan 29, 2009 | Oct 19, 2020 | $33.30 | 130.59% |
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