Nasdaq Stock Forecast
Nasdaq stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Nasdaq stock price gained 0.451% on the last trading day (Thursday, 9th May 2024), rising from $59.91 to $60.18. During the last trading day the stock fluctuated 0.89% from a day low at $59.81 to a day high of $60.34. The price has been going up and down for this period, and there has been a -0.18% loss for the last 2 weeks. Volume fell on the last day by -697 thousand shares and in total, 2 million shares were bought and sold for approximately $113.23 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 lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $60.00 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 9.16% during the next 3 months and, with a 90% probability hold a price between $65.50 and $71.55 at the end of this 3-month period.
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NDAQ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Nasdaq 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 $60.49 and $61.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -5.32%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Nasdaq stock
Nasdaq finds support from accumulated volume at $60.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.535 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NDAQ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Nasdaq to open at $60.11, and during the day (based on 14 day Average True Range), to move between $59.02 and $61.34, which gives a possible trading interval of +/-$1.16 (+/-1.94%) up or down from last closing price. If Nasdaq takes out the full calculated possible swing range there will be an estimated 3.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.29 (0.18%) than the support at $60.07 (0.18%), 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 Nasdaq stock A Buy?
The Nasdaq stock holds several negative signals and despite the positive trend, we believe Nasdaq 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: -3.267 Sell Candidate Downgraded
Predicted Opening Price for Nasdaq of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $60.11 ( 0.119%) | $60.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDAQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.64 | 0.770 % | |
| R2 | 60.44 | 0.430 % | ||
| R1 | 60.31 | 0.221 % | ||
| Current price: | 60.18 | |||
| Support | S1 | 59.90 | -0.459 % | |
| S2 | 59.78 | -0.668 % | ||
| S3 | 59.57 | -1.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.84 | 2.76 % | |
| R2 | 60.88 | 1.16 % | ||
| R1 | 60.29 | 0.183 % | ||
| Current price | 60.18 | |||
| Support | S1 | 60.07 | -0.183% | |
| S2 | 60.03 | -0.249% | ||
| S3 | 60.01 | -0.282% |
NDAQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.240 | 0.399% |
| 2 | Mar 13, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.220 | 0.349% |
| 3 | Oct 18, 2023 | Dec 07, 2023 | Dec 22, 2023 | $0.220 | 0.386% |
| 4 | Aug 06, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.220 | 0.453% |
| 5 | Aug 06, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.220 | 0.441% |
FAQ
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