Newron Pharmaceuticals S.p.A. Stock Forecast
A very strong day for Newron Pharmaceuticals S.p.A. stock price on Friday
(Updated on May 03, 2024)
The Newron Pharmaceuticals S.p.A. stock price gained 9.51% on the last trading day (Friday, 3rd May 2024), rising from 8.31 Fr to 9.10 Fr. It has now gained 5 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 9.79% from a day low at 8.38 Fr to a day high of 9.20 Fr. The price has risen in 7 of the last 10 days and is up by 36.23% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 42 thousand more shares were traded than the day before. In total, 206 thousand shares were bought and sold for approximately 1.88 Fr million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is 8.06 Fr, a level that may pose a second chance to hit a runner. According to fan-theory 9.64 Fr will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NWRN.SW Signals & Forecast
The Newron Pharmaceuticals S.p.A. 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 7.75 Fr and 7.63 Fr. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 36.23%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Newron Pharmaceuticals S.p.A. stock
Newron Pharmaceuticals S.p.A. finds support from accumulated volume at 9.02 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved 0.82 Fr between high and low, or 9.79%. For the last week, the stock has had daily average volatility of 12.17%.
Our recommended stop-loss: 8.77 Fr (-3.68%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (NWRN.SW) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Newron Pharmaceuticals S.p.A. to open at 8.89 Fr, and during the day (based on 14 day Average True Range), to move between 8.44 Fr and 9.76 Fr, which gives a possible trading interval of +/-0.657 Fr (+/-7.22%) up or down from last closing price. If Newron Pharmaceuticals S.p.A. takes out the full calculated possible swing range there will be an estimated 14.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 9.02 Fr, some 0.0800 Fr (0.88%) from the current price of 9.10 Fr, our system finds the risk reward attractive.
Is Newron Pharmaceuticals S.p.A. stock A Buy?
Newron Pharmaceuticals S.p.A. 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Newron Pharmaceuticals S.p.A. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 8.89 Fr ( 2.27%) | 9.10 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NWRN.SW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.71 | 6.74 % | |
| R2 | 9.40 | 3.30 % | ||
| R1 | 9.21 | 1.17 % | ||
| Current price: | 9.10 | |||
| Support | S1 | 8.58 | -5.71 % | |
| S2 | 8.39 | -7.84 % | ||
| S3 | 8.07 | -11.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.10 | |||
| Support | S1 | 9.02 | -0.88% | |
| S2 | 8.21 | -9.78% | ||
| S3 | 7.82 | -14.07% |
FAQ
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