Nampak Limited Stock Forecast
Nampak Limited stock price up 3.07% on Friday
(Updated on Jun 21, 2024)
The Nampak Limited stock price gained 3.07% on the last trading day (Friday, 21st Jun 2024), rising from $22,800.00 to $23,500.00. It has now gained 3 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 6.01% from a day low at $22,800.00 to a day high of $24,170.00. The price has risen in 7 of the last 10 days and is up by 29.85% over the past 2 weeks. Volume fell on the last day by -18 thousand shares and in total, 45 thousand shares were bought and sold for approximately $1.07 billion. 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $20,253.77, a level that may pose a second chance to hit a runner.
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NPK.JO Signals & Forecast
The Nampak Limited 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 $19,611.00 and $18,286.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 32.02%. 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 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.
Support, Risk & Stop-loss for Nampak Limited stock
Nampak Limited finds support from accumulated volume at $22,800.00 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 $1,370.00 between high and low, or 6.01%. For the last week, the stock has had daily average volatility of 7.25%.
The Nampak Limited stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $22,823.20 (-2.88%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (NPK.JO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Nampak Limited to open at $23,490.00, and during the day (based on 14 day Average True Range), to move between $22,578.90 and $24,421.10, which gives a possible trading interval of +/-$921.10 (+/-3.92%) up or down from last closing price. If Nampak Limited takes out the full calculated possible swing range there will be an estimated 7.84% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $22,800.00, some $700.00 (2.98%) from the current price of $23,500.00, our system finds the risk reward attractive.
Earnings coming up
Nampak Limited will release earnings BMO on Friday, June 28, 2024. We will update the financials statements for Nampak Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.50% in the first trading day after earnings release.
Is Nampak Limited stock A Buy?
Nampak Limited 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Nampak Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $23,490.00 ( 0.0426%) | $23,500.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NPK.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24,860.00 | 5.79% |
| R2 | 24,336.66 | 3.56% |
| R1 | 24,013.34 | 2.18% |
| Price | 23,500.00 | |
| S1 | 22,966.66 | -2.27% |
| S2 | 22,643.34 | -3.65% |
| S3 | 22,120.00 | -5.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 23,500.00 | |
| S1 | 22,800.00 | -2.98% |
| S2 | 19,000.00 | -19.15% |
| S3 | 18,700.00 | -20.43% |
NPK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2016 | Jan 11, 2016 | Jan 11, 2016 | $92.00 | 0.0177% |
| 2 | Jun 29, 2015 | Jun 29, 2015 | Jun 29, 2015 | $42.00 | 0.0051% |
| 3 | Jan 12, 2015 | Jan 12, 2015 | Jan 12, 2015 | $107.00 | 0.0001% |
| 4 | Jun 30, 2014 | Jun 30, 2014 | Jun 30, 2014 | $46.00 | 0.0050% |
| 5 | Jan 13, 2014 | Jan 13, 2014 | Jan 13, 2014 | $98.00 | 0.0100% |
FAQ
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