NewLake Capital Partners, Inc. Stock Forecast
NewLake Capital Partners, Inc. stock upgraded to Strong Buy Candidate.
(Updated on Apr 25, 2024)
The NewLake Capital Partners, Inc. stock price gained 0.92% on the last trading day (Thursday, 25th Apr 2024), rising from $18.45 to $18.62. During the last trading day the stock fluctuated 2.02% from a day low at $18.40 to a day high of $18.77. The price has risen in 5 of the last 10 days and is up by 1.47% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 56 thousand shares were bought and sold for approximately $1.04 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 wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.56% during the next 3 months and, with a 90% probability hold a price between $20.53 and $23.32 at the end of this 3-month period.
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NLCP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -2.92%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The NewLake Capital Partners, 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 $18.12 and $18.02. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for NewLake Capital Partners, Inc. stock
NewLake Capital Partners, Inc. finds support from accumulated volume at $18.45 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.373 between high and low, or 2.02%. For the last week the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: $17.94 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (NLCP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect NewLake Capital Partners, Inc. to open at $18.60, and during the day (based on 14 day Average True Range), to move between $18.04 and $19.20, which gives a possible trading interval of +/-$0.577 (+/-3.10%) up or down from last closing price. If NewLake Capital Partners, Inc. takes out the full calculated possible swing range there will be an estimated 6.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.75 (0.70%) than the support at $18.45 (0.91%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NewLake Capital Partners, Inc. stock A Buy?
NewLake Capital Partners, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.199 Strong Buy Candidate Upgraded
Predicted Opening Price for NewLake Capital Partners, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $18.60 ( 0.121%) | $18.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NLCP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.97 | 1.88 % | |
| R2 | 18.83 | 1.12 % | ||
| R1 | 18.74 | 0.643 % | ||
| Current price: | 18.62 | |||
| Support | S1 | 18.46 | -0.89 % | |
| S2 | 18.37 | -1.36 % | ||
| S3 | 18.23 | -2.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.11 | 2.63 % | |
| R2 | 19.00 | 2.04 % | ||
| R1 | 18.75 | 0.698 % | ||
| Current price | 18.62 | |||
| Support | S1 | 18.45 | -0.91% | |
| S2 | 16.45 | -11.65% | ||
| S3 | 16.10 | -13.53% |
NLCP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.410 | 2.24% |
| 2 | Dec 14, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.400 | 2.38% |
| 3 | Sep 18, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.390 | 3.02% |
| 4 | Jun 15, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.390 | 2.70% |
| 5 | Mar 08, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.390 | 3.18% |
FAQ
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