New England Realty Associates LP Stock Forecast
New England Realty Associates LP stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The New England Realty Associates LP stock price gained 0.768% on the last trading day (Friday, 3rd May 2024), rising from $69.70 to $70.23. 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 0% from a day low at $70.23 to a day high of $70.23. The price has been going up and down for this period, and there has been a 1.56% gain for the last 2 weeks. Volume fell on the last day by -835 shares and in total, 100 shares were bought and sold for approximately $7.02 thousand. 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect New England Realty Associates LP stock with a 90% probability to be traded between $68.55 and $72.37 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NEN Signals & Forecast
The New England Realty Associates LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $69.44 and $70.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.63%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 8.22% to $76.00 within 11 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for New England Realty Associates LP stock
New England Realty Associates LP finds support from accumulated volume at $69.15 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.222%
Our recommended stop-loss: $66.57 (-5.21%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (NEN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect New England Realty Associates LP to open at $70.23, and during the day (based on 14 day Average True Range), to move between $69.70 and $70.76, which gives a possible trading interval of +/-$0.534 (+/-0.76%) up or down from last closing price. If New England Realty Associates LP takes out the full calculated possible swing range there will be an estimated 1.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $70.50 (0.38%) than the support at $69.15 (1.54%), 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 England Realty Associates LP stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for New England Realty Associates LP stock to perform well in 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: 1.207 Buy Candidate Upgraded
Predicted Opening Price for New England Realty Associates LP of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $70.23 ( 0%) | $70.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.23 | . | |
| R2 | 70.23 | . | ||
| R1 | 70.23 | . | ||
| Current price: | 70.23 | |||
| Support | S1 | 70.23 | . | |
| S2 | 70.23 | . | ||
| S3 | 70.23 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.90 | 3.80 % | |
| R2 | 71.00 | 1.10 % | ||
| R1 | 70.50 | 0.384 % | ||
| Current price | 70.23 | |||
| Support | S1 | 69.15 | -1.54% | |
| S2 | 69.10 | -1.61% | ||
| S3 | 68.50 | -2.46% |
NEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $2.00 | 2.78% |
| 2 | Nov 09, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.400 | 0.574% |
| 3 | Aug 04, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.400 | 0.584% |
| 4 | May 09, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.400 | 0.548% |
| 5 | Mar 09, 2023 | Mar 17, 2023 | Mar 31, 2023 | $1.60 | 2.19% |
FAQ
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