Nine Entertainment Co. Holdings Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Nine Entertainment Co. Holdings Limited stock upgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The Nine Entertainment Co. Holdings Limited stock price gained 1.33% on the last trading day (Wednesday, 8th May 2024), rising from $1.50 to $1.52. During the last trading day the stock fluctuated 1.99% from a day low at $1.51 to a day high of $1.54. The price has fallen in 6 of the last 10 days and is down by -0.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 641 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $5.30 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.92% during the next 3 months and, with a 90% probability hold a price between $1.15 and $1.26 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.
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NEC.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 4.11%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nine Entertainment Co. Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.60. On a fall, the stock will find some support from the short-term average at $1.49. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Nine Entertainment Co. Holdings Limited stock
Nine Entertainment Co. Holdings Limited finds support from accumulated volume at $1.50 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 $0.0300 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: $1.45 (-4.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (NEC.AX) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Nine Entertainment Co. Holdings Limited to open at $1.52, and during the day (based on 14 day Average True Range), to move between $1.48 and $1.56, which gives a possible trading interval of +/-$0.0386 (+/-2.54%) up or down from last closing price. If Nine Entertainment Co. Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.50 (1.32%) than the resistance at $1.67 (9.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nine Entertainment Co. Holdings Limited stock A Buy?
Nine Entertainment Co. Holdings Limited 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: -0.190 Hold/Accumulate Upgraded
Predicted Opening Price for Nine Entertainment Co. Holdings Limited of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $1.52 ( 0.00000000%) | $1.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEC.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.55 | 1.97 % | |
| R2 | 1.54 | 1.22 % | ||
| R1 | 1.53 | 0.754 % | ||
| Current price: | 1.52 | |||
| Support | S1 | 1.51 | -0.754 % | |
| S2 | 1.50 | -1.22 % | ||
| S3 | 1.49 | -1.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.68 | 10.53 % | |
| R2 | 1.68 | 10.20 % | ||
| R1 | 1.67 | 9.87 % | ||
| Current price | 1.52 | |||
| Support | S1 | 1.50 | -1.32% | |
| S2 | 1.48 | -2.96% | ||
| S3 | 1.46 | -3.95% |
NEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 08, 2024 | Apr 18, 2024 | $0.0400 | 2.60% |
| 2 | Mar 03, 2023 | Mar 03, 2023 | Mar 03, 2023 | $0.0600 | 3.21% |
| 3 | Sep 09, 2022 | Sep 09, 2022 | Sep 09, 2022 | $0.0700 | 3.27% |
| 4 | Mar 03, 2022 | Mar 03, 2022 | Mar 03, 2022 | $0.0700 | 2.57% |
| 5 | Sep 09, 2021 | Sep 09, 2021 | Sep 09, 2021 | $0.0550 | 2.08% |
FAQ
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