NETGEAR Stock Forecast
High volatility in NETGEAR stock price on Thursday which ended trading at $11.78
(Updated on May 02, 2024)
The NETGEAR stock price fell by -21.15% on the last day (Thursday, 2nd May 2024) from $14.94 to $11.78. During the last trading day the stock fluctuated 24.05% from a day low at $10.48 to a day high of $13.00. The price has risen in 8 of the last 10 days but is still down by -16.75% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $17.36 million.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $13.13 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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NTGR Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The NETGEAR stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.40 and $14.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -25.58%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for NETGEAR stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $2.52 between high and low, or 24.05%. For the last week, the stock has had daily average volatility of 6.64%.
NETGEAR is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NTGR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect NETGEAR to open at $11.75, and during the day (based on 14 day Average True Range), to move between $11.10 and $12.46, which gives a possible trading interval of +/-$0.676 (+/-5.74%) up or down from last closing price. If NETGEAR takes out the full calculated possible swing range there will be an estimated 11.47% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $13.20, some $1.42 (12.05%) from the current price of $11.78, our system finds the risk reward not very attractive.
Is NETGEAR stock A Buy?
NETGEAR holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.906 Sell Candidate Downgraded
Predicted Opening Price for NETGEAR of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $11.75 ( 0.226%) | $11.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTGR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.27 | 21.17 % | |
| R2 | 13.31 | 12.99 % | ||
| R1 | 12.72 | 7.95 % | ||
| Current price: | 11.78 | |||
| Support | S1 | 10.79 | -8.40 % | |
| S2 | 10.20 | -13.45 % | ||
| S3 | 9.23 | -21.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.58 | 23.77 % | |
| R2 | 14.03 | 19.10 % | ||
| R1 | 13.20 | 12.05 % | ||
| Current price | 11.78 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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