New World Development Company Limited Stock Forecast
Stronger technical forecast for New World Development Company Limited stock price after Friday trading.
(Updated on May 17, 2024)
The New World Development Company Limited stock price gained 3.51% on the last trading day (Friday, 17th May 2024), rising from $0.570 to $0.590. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.51% from a day low at $0.570 to a day high of $0.590. The price has risen in 6 of the last 10 days and is up by 3.15% 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, 977 more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $1.97 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.581, a level that may pose a second chance to hit a runner. According to fan-theory $0.738 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NDVLY Signals & Forecast
Mostly positive signals in the chart today. The New World Development Company 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 $0.559 and $0.540. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 24.01%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). New World Development Company 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for New World Development Company Limited stock
New World Development Company Limited finds support from accumulated volume at $0.580 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0200 between high and low, or 3.51%. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $0.567 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (NDVLY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect New World Development Company Limited to open at $0.583, and during the day (based on 14 day Average True Range), to move between $0.543 and $0.637, which gives a possible trading interval of +/-$0.0465 (+/-7.88%) up or down from last closing price. If New World Development Company Limited takes out the full calculated possible swing range there will be an estimated 15.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.600 (1.69%) than the support at $0.580 (1.69%), 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 New World Development Company Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.855 Buy Candidate Upgraded
Predicted Opening Price for New World Development Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.583 ( 1.13%) | $0.590 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDVLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.603 | 2.26 % | |
| R2 | 0.596 | 0.96 % | ||
| R1 | 0.591 | 0.165 % | ||
| Current price: | 0.590 | |||
| Support | S1 | 0.576 | -2.42 % | |
| S2 | 0.571 | -3.22 % | ||
| S3 | 0.563 | -4.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.662 | 12.20 % | |
| R2 | 0.627 | 6.34 % | ||
| R1 | 0.600 | 1.69 % | ||
| Current price | 0.590 | |||
| Support | S1 | 0.580 | -1.69% | |
| S2 | 0.530 | -10.17% | ||
| S3 | 0.510 | -13.56% |
NDVLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Apr 25, 2024 | $0.0108 | 2.19% |
| 2 | Nov 02, 2023 | Nov 22, 2023 | Dec 27, 2023 | $0.0200 | 2.84% |
| 3 | Jun 14, 2023 | Mar 15, 2023 | Apr 20, 2023 | $0.0290 | 2.32% |
| 4 | Nov 19, 2022 | Nov 23, 2022 | Dec 28, 2022 | $0.0960 | 6.96% |
| 5 | Mar 15, 2022 | Mar 16, 2022 | Apr 19, 2022 | $0.0360 | 1.72% |
FAQ
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