Northwest Pipe Company Stock Forecast
Northwest Pipe Company stock upgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Northwest Pipe Company stock price fell by -0.97% on the last day (Thursday, 25th Apr 2024) from $31.80 to $31.49. During the last trading day the stock fluctuated 1.25% from a day low at $31.16 to a day high of $31.55. The price has fallen in 6 of the last 10 days and is down by -6.39% for this period. 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 -11 thousand shares and in total, 29 thousand shares were bought and sold for approximately $905.34 thousand.
Given the current short-term trend, the stock is expected to rise 15.09% during the next 3 months and, with a 90% probability hold a price between $36.24 and $42.07 at the end of this 3-month period.
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NWPX Signals & Forecast
There are few to no technical positive signals at the moment. The Northwest Pipe Company 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 $31.82 and $33.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -10.44%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Northwest Pipe Company stock
Northwest Pipe Company finds support from accumulated volume at $31.27 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.390 between high and low, or 1.25%. For the last week the stock has had daily average volatility of 1.69%.
Northwest Pipe Company is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $29.89 (-5.08%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (NWPX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Northwest Pipe Company to open at $31.40, and during the day (based on 14 day Average True Range), to move between $30.77 and $32.21, which gives a possible trading interval of +/-$0.724 (+/-2.30%) up or down from last closing price. If Northwest Pipe Company takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.27 (0.70%) than the resistance at $32.38 (2.83%), 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
Northwest Pipe Company will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.340. We will update the financials statements for Northwest Pipe Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.55% in the first trading day after earnings release.
Is Northwest Pipe Company stock A Buy?
Northwest Pipe Company holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.839 Hold/Accumulate Upgraded
Predicted Opening Price for Northwest Pipe Company of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$31.40 ( 0.286%) | $31.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NWPX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.79 | 0.95 % | |
R2 | 31.64 | 0.479 % | ||
R1 | 31.55 | 0.187 % | ||
Current price: | 31.49 | |||
Support | S1 | 31.25 | -0.759 % | |
S2 | 31.16 | -1.05 % | ||
S3 | 31.01 | -1.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 35.16 | 11.65 % | |
R2 | 33.83 | 7.43 % | ||
R1 | 32.38 | 2.83 % | ||
Current price | 31.49 | |||
Support | S1 | 31.27 | -0.699% | |
S2 | 30.37 | -3.56% | ||
S3 | 29.63 | -5.91% |
FAQ
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