New Wave Group AB (publ) 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
New Wave Group AB (publ) stock upgraded to Buy Candidate.
(Updated on May 17, 2024)
The New Wave Group AB (publ) stock price gained 1.63% on the last trading day (Friday, 17th May 2024), rising from kr110.60 to kr112.40. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.50% from a day low at kr108.60 to a day high of kr112.40. The price has risen in 9 of the last 10 days and is up by 11.84% 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, 19 thousand more shares were traded than the day before. In total, 261 thousand shares were bought and sold for approximately kr29.34 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at kr113.99 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.16% during the next 3 months and, with a 90% probability hold a price between kr74.46 and kr94.43 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NEWA-B.ST Signals & Forecast
Mostly positive signals in the chart today. The New Wave Group AB (publ) 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 kr107.91 and kr111.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 17.82%. 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.
Support, Risk & Stop-loss for New Wave Group AB (publ) stock
New Wave Group AB (publ) finds support from accumulated volume at kr110.60 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 kr3.80 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 2.58%.
The New Wave Group AB (publ) stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the New Wave Group AB (publ) has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: kr108.76 (-3.24%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (NEWA-B.ST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect New Wave Group AB (publ) to open at kr111.13, and during the day (based on 14 day Average True Range), to move between kr109.12 and kr115.68, which gives a possible trading interval of +/-kr3.28 (+/-2.92%) 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 5.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr110.60 (1.60%) than the resistance at kr117.16 (4.23%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.704 Buy Candidate Upgraded
Predicted Opening Price for New Wave Group AB (publ) of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| kr111.13 ( 1.13%) | kr112.40 |
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 | 114.93 | 2.25 % | |
| R2 | 113.48 | 0.96 % | ||
| R1 | 112.58 | 0.165 % | ||
| Current price: | 112.40 | |||
| Support | S1 | 109.68 | -2.42 % | |
| S2 | 108.78 | -3.22 % | ||
| S3 | 107.33 | -4.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 126.56 | 12.60 % | |
| R2 | 124.14 | 10.44 % | ||
| R1 | 117.16 | 4.23 % | ||
| Current price | 112.40 | |||
| Support | S1 | 110.60 | -1.60% | |
| S2 | 109.50 | -2.58% | ||
| S3 | 95.40 | -15.12% |
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
Click here for our free guide on how to buy New Wave Group AB (publ) Stock.
