NMI Holdings Inc Stock Forecast
NMI Holdings Inc stock price up 2.56% on Wednesday
(Updated on May 01, 2024)
The NMI Holdings Inc stock price gained 2.56% on the last trading day (Wednesday, 1st May 2024), rising from $30.86 to $31.65. During the last trading day the stock fluctuated 7.61% from a day low at $30.35 to a day high of $32.66. The price has risen in 8 of the last 10 days and is up by 7.29% 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, 81 thousand more shares were traded than the day before. In total, 599 thousand shares were bought and sold for approximately $18.95 million.
The stock lies in the middle of a wide and weak 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 3.34% during the next 3 months and, with a 90% probability hold a price between $30.66 and $33.83 at the end of this 3-month period.
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NMIH Signals & Forecast
Mostly positive signals in the chart today. The NMI Holdings 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 $31.02 and $30.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.29%. 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 NMI Holdings Inc stock
NMI Holdings Inc finds support from accumulated volume at $31.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.31 (7.61%) between high and low. For the last week, the stock has had daily average volatility of 3.09%.
Our recommended stop-loss: $30.38 (-4.00%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (NMIH) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect NMI Holdings Inc to open at $31.55, and during the day (based on 14 day Average True Range), to move between $30.91 and $32.39, which gives a possible trading interval of +/-$0.738 (+/-2.33%) up or down from last closing price. If NMI Holdings Inc takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.75 (0.32%) than the support at $31.26 (1.23%), 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 NMI Holdings 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 NMI Holdings Inc stock to perform well in the short-term.
Current score: 4.203 Buy Candidate Unchanged
Predicted Opening Price for NMI Holdings Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $31.55 ( 0.305%) | $31.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMIH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.86 | 6.99 % | |
| R2 | 32.98 | 4.21 % | ||
| R1 | 32.44 | 2.48 % | ||
| Current price: | 31.65 | |||
| Support | S1 | 30.67 | -3.09 % | |
| S2 | 30.13 | -4.82 % | ||
| S3 | 29.24 | -7.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.34 | 2.18 % | |
| R2 | 31.85 | 0.632 % | ||
| R1 | 31.75 | 0.316 % | ||
| Current price | 31.65 | |||
| Support | S1 | 31.26 | -1.23% | |
| S2 | 29.64 | -6.35% | ||
| S3 | 29.59 | -6.51% |
FAQ
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