Noodles & Company Stock Forecast
Big movements in Noodles & Company stock price on Wednesday moving 14.29% between high and low
(Updated on Apr 17, 2024)
The Noodles & Company stock price fell by -7.75% on the last day (Wednesday, 17th Apr 2024) from $1.36 to $1.25. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 14.29% from a day low at $1.23 to a day high of $1.40. The price has fallen in 7 of the last 10 days and is down by -28.57% 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 -181 thousand shares and in total, 456 thousand shares were bought and sold for approximately $569.71 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($1.30) are considered to be a "second chance" to get out. According to the fan-theory $0.95 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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NDLS Signals & Forecast
There are few to no technical positive signals at the moment. The Noodles & Company 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 $1.46 and $1.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 12, 2024, and so far it has fallen -52.65%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Noodles & Company stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.175 between high and low, or 14.29%. For the last week the stock has had daily average volatility of 8.49%.
Noodles & Company is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NDLS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Noodles & Company to open at $1.29, and during the day (based on 14 day Average True Range), to move between $1.13 and $1.37, which gives a possible trading interval of +/-$0.115 (+/-9.24%) up or down from last closing price. If Noodles & Company takes out the full calculated possible swing range there will be an estimated 18.48% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.36, some $0.105 (8.40%) from the current price of $1.25, our system finds the risk reward not very attractive.
Is Noodles & Company stock A Buy?
Noodles & Company holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -7.125 Strong Sell Candidate Unchanged
Predicted Opening Price for Noodles & Company of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $1.29 ( 3.33%) | $1.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDLS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.47 | 17.33 % | |
| R2 | 1.40 | 11.99 % | ||
| R1 | 1.36 | 8.68 % | ||
| Current price: | 1.25 | |||
| Support | S1 | 1.22 | -2.01 % | |
| S2 | 1.18 | -5.32 % | ||
| S3 | 1.12 | -10.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.55 | 24.00 % | |
| R2 | 1.47 | 17.60 % | ||
| R1 | 1.36 | 8.40 % | ||
| Current price | 1.25 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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