NightFood Holdings, Inc. Stock Forecast
Volatile ride for NightFood Holdings, Inc. stock price on Thursday moving between $0.0108 and $0.0160
(Updated on May 09, 2024)
The NightFood Holdings, Inc. stock price gained 0.93% on the last trading day (Thursday, 9th May 2024), rising from $0.0107 to $0.0108. During the last trading day the stock fluctuated 48.15% from a day low at $0.0108 to a day high of $0.0160. The price has been going up and down for this period, and there has been a 6.93% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 275 thousand more shares were traded than the day before. In total, 326 thousand shares were bought and sold for approximately $3.53 thousand.
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 -36.90% during the next 3 months and, with a 90% probability hold a price between $0.0033 and $0.0097 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.
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NGTF Signals & Forecast
The NightFood Holdings, Inc. 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 $0.0132. On a fall, the stock will find some support from the long-term average at approximately $0.0107. 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. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 0.93%. 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). NightFood Holdings, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NightFood Holdings, Inc. stock
NightFood Holdings, Inc. finds support from accumulated volume at $0.0107 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0052 between high and low, or 48.15%. For the last week, the stock has had daily average volatility of 28.10%.
Our recommended stop-loss: $0.0102 (-5.46%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (NGTF) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect NightFood Holdings, Inc. to open at $0.0125, and during the day (based on 14 day Average True Range), to move between $0.0078 and $0.0138, which gives a possible trading interval of +/-$0.0030 (+/-27.50%) up or down from last closing price. If NightFood Holdings, Inc. takes out the full calculated possible swing range there will be an estimated 54.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0107 (0.93%) than the resistance at $0.0110 (1.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NightFood Holdings, Inc. stock A Buy?
NightFood Holdings, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.424 Hold/Accumulate Upgraded
Predicted Opening Price for NightFood Holdings, Inc. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.0125 ( 16.05%) | $0.0108 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NGTF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0177 | 64.20 % | |
| R2 | 0.0157 | 45.80 % | ||
| R1 | 0.0145 | 34.44 % | ||
| Current price: | 0.0108 | |||
| Support | S1 | 0.0105 | -2.34 % | |
| S2 | 0.0093 | -13.71 % | ||
| S3 | 0.0073 | -32.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0125 | 15.74 % | |
| R2 | 0.0112 | 3.70 % | ||
| R1 | 0.0110 | 1.85 % | ||
| Current price | 0.0108 | |||
| Support | S1 | 0.0107 | -0.93% | |
| S2 | 0.0100 | -7.41% | ||
| S3 | 0.0084 | -22.22% |
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