NZX Limited Stock Forecast
NZX Limited stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)
The NZX Limited stock price fell by -1.72% on the last day (Monday, 6th May 2024) from $1.16 to $1.14. During the last trading day the stock fluctuated 2.65% from a day low at $1.13 to a day high of $1.16. The price has been going up and down for this period, and there has been a 0% change 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 -431 thousand shares and in total, 97 thousand shares were bought and sold for approximately $110.30 thousand.
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 14.87% during the next 3 months and, with a 90% probability hold a price between $1.23 and $1.36 at the end of this 3-month period.
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NZX.NZ Signals & Forecast
The NZX Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.16. On a fall, the stock will find some support from the long-term average at approximately $1.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 30, 2024, and so far it has fallen -2.56%. 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 NZX Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.06 and $1.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NZX Limited finds support just below today's level at $1.06. If this is broken, then the next support from accumulated volume will be at $1.05 and $1.00.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0300 between high and low, or 2.65%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: $1.08 (-4.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (NZX.NZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect NZX Limited to open at $1.14, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.17, which gives a possible trading interval of +/-$0.0256 (+/-2.25%) up or down from last closing price. If NZX Limited takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.15 (0.88%) than the support at $1.06 (7.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NZX Limited stock A Buy?
NZX Limited 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: -0.934 Hold/Accumulate Downgraded
Predicted Opening Price for NZX Limited of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$1.14 ( 0.292%) | $1.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NZX.NZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.17 | 2.92 % | |
R2 | 1.16 | 1.92 % | ||
R1 | 1.15 | 1.30 % | ||
Current price: | 1.14 | |||
Support | S1 | 1.13 | -0.713 % | |
S2 | 1.12 | -1.33 % | ||
S3 | 1.11 | -2.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.17 | 2.63 % | |
R2 | 1.16 | 1.75 % | ||
R1 | 1.15 | 0.88 % | ||
Current price | 1.14 | |||
Support | S1 | 1.06 | -7.02% | |
S2 | 1.05 | -7.89% | ||
S3 | 1.00 | -12.28% |
NZX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0365 | 3.47% |
2 | Sep 20, 2023 | Sep 20, 2023 | Sep 20, 2023 | $0.0300 | 2.65% |
3 | Mar 01, 2023 | Mar 01, 2023 | Mar 01, 2023 | $0.0310 | 2.50% |
4 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | $0.0417 | 3.39% |
5 | Feb 23, 2022 | Feb 23, 2022 | Feb 23, 2022 | $0.0310 | 2.04% |
FAQ
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