Nova Measuring Instruments Ltd. Stock Forecast
Nova Measuring Instruments Ltd. stock price ended at $174.09 on Monday, after losing 0.143%.
(Updated on Apr 29, 2024)
The Nova Measuring Instruments Ltd. stock price fell by -0.143% on the last day (Monday, 29th Apr 2024) from $174.34 to $174.09. During the last trading day the stock fluctuated 1.74% from a day low at $171.50 to a day high of $174.48. The price has been going up and down for this period, and there has been a 2.12% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -58 thousand shares and in total, 101 thousand shares were bought and sold for approximately $17.51 million.
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 12.74% during the next 3 months and, with a 90% probability hold a price between $182.78 and $227.75 at the end of this 3-month period.
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NVMI Signals & Forecast
The Nova Measuring Instruments Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $168.11 and $173.94. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -7.24%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Nova Measuring Instruments Ltd. stock
Nova Measuring Instruments Ltd. finds support from accumulated volume at $173.45 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.98 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: $163.61 (-6.02%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (NVMI) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Nova Measuring Instruments Ltd. to open at $173.36, and during the day (based on 14 day Average True Range), to move between $167.95 and $180.23, which gives a possible trading interval of +/-$6.14 (+/-3.53%) up or down from last closing price. If Nova Measuring Instruments Ltd. takes out the full calculated possible swing range there will be an estimated 7.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $173.45 (0.37%) than the resistance at $183.66 (5.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nova Measuring Instruments Ltd. stock A Buy?
Nova Measuring Instruments Ltd. 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: 0.946 Hold/Accumulate Unchanged
Predicted Opening Price for Nova Measuring Instruments Ltd. of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
$173.36 ( 0.421%) | $174.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVMI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 176.34 | 1.29 % | |
R2 | 175.20 | 0.637 % | ||
R1 | 174.50 | 0.233 % | ||
Current price: | 174.09 | |||
Support | S1 | 172.22 | -1.08 % | |
S2 | 171.52 | -1.48 % | ||
S3 | 170.38 | -2.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 187.67 | 7.80 % | |
R2 | 184.28 | 5.85 % | ||
R1 | 183.66 | 5.50 % | ||
Current price | 174.09 | |||
Support | S1 | 173.45 | -0.368% | |
S2 | 168.25 | -3.35% | ||
S3 | 166.57 | -4.32% |
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