Next Mediaworks Ltd Stock Forecast

Red day on Thursday for Next Mediaworks Ltd stock after losing 2.96%
(Updated on May 16, 2024)

NEXTMEDIA.BO Signals & Forecast

A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -9.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Next Mediaworks Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Next Mediaworks Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹7.33. On a fall, the stock will find some support from the long-term average at approximately ₹7.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. The stock had a Golden Star Signal on Wednesday, May 31, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Next Mediaworks Ltd stock

Next Mediaworks Ltd finds support from accumulated volume at ₹7.19 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 ₹0.390 between high and low, or 5.49%. For the last week, the stock has had daily average volatility of 6.38%.

Our recommended stop-loss: ₹6.84 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (NEXTMEDIA.BO) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Next Mediaworks Ltd to open at ₹7.27, and during the day (based on 14 day Average True Range), to move between ₹6.66 and ₹7.76, which gives a possible trading interval of +/-₹0.550 (+/-7.63%) up or down from last closing price. If Next Mediaworks Ltd takes out the full calculated possible swing range there will be an estimated 15.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹7.19 (0.28%) than the resistance at ₹7.40 (2.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Next Mediaworks Ltd stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.183 Buy Candidate Unchanged

Predicted Opening Price for Next Mediaworks Ltd of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.