Natural Gas Services Group Inc Stock Forecast
Natural Gas Services Group Inc stock price up 2.02% on Tuesday
(Updated on Apr 23, 2024)
The Natural Gas Services Group Inc stock price gained 2.02% on the last trading day (Tuesday, 23rd Apr 2024), rising from $23.73 to $24.21. It has now gained 4 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 2.65% from a day low at $23.79 to a day high of $24.42. The price has risen in 7 of the last 10 days and is up by 4.71% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 74 thousand shares were bought and sold for approximately $1.78 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 upper part of a wide and strong rising 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 $24.63 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 74.83% during the next 3 months and, with a 90% probability hold a price between $37.03 and $43.05 at the end of this 3-month period.
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NGS Signals & Forecast
The Natural Gas Services Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.61 and $20.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 43.00%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Natural Gas Services Group Inc stock
Natural Gas Services Group Inc finds support from accumulated volume at $23.14 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 $0.630 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 4.19%.
Our recommended stop-loss: $23.43 (-3.24%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (NGS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Natural Gas Services Group Inc to open at $24.14, and during the day (based on 14 day Average True Range), to move between $23.28 and $25.14, which gives a possible trading interval of +/-$0.93 (+/-3.84%) up or down from last closing price. If Natural Gas Services Group Inc takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $23.14, some $1.07 (4.42%) from the current price of $24.21, our system finds the risk reward attractive.
Is Natural Gas Services Group Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Natural Gas Services Group Inc stock to perform well in the short-term.
Current score: 3.088 Buy Candidate Unchanged
Predicted Opening Price for Natural Gas Services Group Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $24.14 ( 0.289%) | $24.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.77 | 2.31 % | |
| R2 | 24.53 | 1.32 % | ||
| R1 | 24.38 | 0.705 % | ||
| Current price: | 24.21 | |||
| Support | S1 | 23.90 | -1.28 % | |
| S2 | 23.75 | -1.90 % | ||
| S3 | 23.51 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 24.21 | |||
| Support | S1 | 23.14 | -4.42% | |
| S2 | 22.77 | -5.95% | ||
| S3 | 20.25 | -16.36% |
FAQ
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