New Wave Group AB (publ) Stock Forecast
New Wave Group AB (publ) stock price up 2.29% on Friday
(Updated on May 03, 2024)
The New Wave Group AB (publ) stock price gained 2.29% on the last trading day (Friday, 3rd May 2024), rising from kr100.50 to kr102.80. During the last trading day the stock fluctuated 2.77% from a day low at kr101.20 to a day high of kr104.00. The price has been going up and down for this period, and there has been a -6.38% loss for the last 2 weeks. Volume fell on the last day by -51 thousand shares and in total, 178 thousand shares were bought and sold for approximately kr18.27 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 middle of a very wide and 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 -3.60% during the next 3 months and, with a 90% probability hold a price between kr91.59 and kr121.85 at the end of this 3-month period.
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NEWA-B.ST Signals & Forecast
There are mixed signals in the stock today. The New Wave Group AB (publ) 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 kr116.05. On a fall, the stock will find some support from the short-term average at kr101.86. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.76%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for New Wave Group AB (publ) stock
New Wave Group AB (publ) finds support from accumulated volume at kr101.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved kr2.80 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NEWA-B.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect New Wave Group AB (publ) to open at kr102.67, and during the day (based on 14 day Average True Range), to move between kr98.89 and kr106.71, which gives a possible trading interval of +/-kr3.91 (+/-3.80%) up or down from last closing price. If New Wave Group AB (publ) takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr101.60 (1.17%) than the resistance at kr109.12 (6.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is New Wave Group AB (publ) stock A Buy?
New Wave Group AB (publ) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.049 Sell Candidate Unchanged
Predicted Opening Price for New Wave Group AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr102.67 ( 0.130%) | kr102.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEWA-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 105.47 | 2.59 % | |
| R2 | 104.40 | 1.55 % | ||
| R1 | 103.74 | 0.91 % | ||
| Current price: | 102.80 | |||
| Support | S1 | 101.60 | -1.17 % | |
| S2 | 100.94 | -1.81 % | ||
| S3 | 99.87 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.60 | 7.59 % | |
| R2 | 109.24 | 6.26 % | ||
| R1 | 109.12 | 6.15 % | ||
| Current price | 102.80 | |||
| Support | S1 | 101.60 | -1.17% | |
| S2 | 95.58 | -7.02% | ||
| S3 | 95.40 | -7.20% |
NEWA-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 17, 2024 | kr0 | 0% |
| 2 | May 17, 2023 | May 17, 2023 | May 17, 2023 | kr1.63 | 1.61% |
| 3 | May 19, 2022 | May 19, 2022 | May 19, 2022 | kr4.25 | 5.56% |
| 4 | Dec 06, 2021 | Dec 06, 2021 | Dec 06, 2021 | kr4.00 | 4.94% |
| 5 | May 14, 2020 | May 14, 2020 | May 14, 2020 | kr2.20 | 17.05% |
FAQ
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