Newell Brands Inc. Stock Forecast
Newell Brands Inc. stock downgraded to Strong Sell Candidate
(Updated on Apr 18, 2024)
The Newell Brands Inc. stock price fell by -0.289% on the last day (Thursday, 18th Apr 2024) from $6.93 to $6.91. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.87% from a day low at $6.80 to a day high of $6.99. The price has fallen in 7 of the last 10 days and is down by -7.25% for this period. Volume has increased on the last day by 696 thousand 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, 5 million shares were bought and sold for approximately $31.80 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.70% during the next 3 months and, with a 90% probability hold a price between $5.36 and $6.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NWL Signals & Forecast
There are few to no technical positive signals at the moment. The Newell Brands Inc. 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 $7.11 and $7.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -15.53%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Newell Brands Inc. stock
Newell Brands Inc. finds support from accumulated volume at $6.85 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 $0.195 between high and low, or 2.87%. For the last week, the stock has had daily average volatility of 2.84%.
Newell Brands Inc. is oversold on RSI14 (22). 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 (NWL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Newell Brands Inc. to open at $6.90, and during the day (based on 14 day Average True Range), to move between $6.64 and $7.18, which gives a possible trading interval of +/-$0.271 (+/-3.93%) up or down from last closing price. If Newell Brands Inc. takes out the full calculated possible swing range there will be an estimated 7.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.85 (0.87%) than the resistance at $7.36 (6.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Newell Brands Inc. will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0700. We will update the financials statements for Newell Brands Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.84% in the first trading day after earnings release.
Is Newell Brands Inc. stock A Buy?
Newell Brands Inc. holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.
Current score: -5.478 Strong Sell Candidate Downgraded
Predicted Opening Price for Newell Brands Inc. of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$6.90 ( 0.169%) | $6.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NWL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.09 | 2.65 % | |
R2 | 7.02 | 1.58 % | ||
R1 | 6.97 | 0.91 % | ||
Current price: | 6.91 | |||
Support | S1 | 6.82 | -1.25 % | |
S2 | 6.78 | -1.91 % | ||
S3 | 6.70 | -2.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.18 | 18.38 % | |
R2 | 7.66 | 10.85 % | ||
R1 | 7.36 | 6.51 % | ||
Current price | 6.91 | |||
Support | S1 | 6.85 | -0.87% | |
S2 | 0 | . | ||
S3 | 0 | . |
NWL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0700 | 0.86% |
2 | Nov 06, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.0700 | 0.80% |
3 | Aug 08, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.0700 | 0.738% |
4 | May 15, 2023 | May 30, 2023 | Jun 15, 2023 | $0.0700 | 0.82% |
5 | Feb 02, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.230 | 1.89% |
FAQ
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