Grupo Aeroportuario del Centro Norte Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Grupo Aeroportuario del Centro Norte stock price ended on $88.29 on Tuesday after gaining 2.29%
(Updated on Mar 28, 2023)
The Grupo Aeroportuario del Centro Norte stock price gained 2.29% on the last trading day (Tuesday, 28th Mar 2023), rising from $86.31 to $88.29. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.62% from a day low at $86.20 to a day high of $88.46. The price has risen in 7 of the last 10 days and is up by 7.24% 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, 5 thousand more shares were traded than the day before. In total, 67 thousand shares were bought and sold for approximately $5.87 million.
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The stock lies in the middle of a 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 25.61% during the next 3 months and, with a 90% probability hold a price between $105.77 and $112.51 at the end of this 3-month period.
OMAB Signals & Forecast
The Grupo Aeroportuario del Centro Norte 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 $84.89 and $79.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, January 30, 2023, and so far it has risen 22.57%. 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.
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Support, Risk & Stop-loss for Grupo Aeroportuario del Centro Norte stock
On the downside, the stock finds support just below today's level from accumulated volume at $79.89 and $79.48. 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, Grupo Aeroportuario del Centro Norte finds support just below today's level at $79.89. If this is broken, then the next support from accumulated volume will be at $79.48 and $71.98.
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 $2.26 between high and low, or 2.62%. For the last week, the stock has had daily average volatility of 2.42%.
Since the Grupo Aeroportuario del Centro Norte has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $85.08 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (OMAB) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Grupo Aeroportuario del Centro Norte S.A.B. de C.V. to open at $87.65, and during the day (based on 14 day Average True Range), to move between $86.11 and $90.47, which gives a possible trading interval of +/-$2.18 (+/-2.47%) up or down from last closing price. If Grupo Aeroportuario del Centro Norte S.A.B. de C.V. takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $79.89, some $8.40 (9.51%) from the current price of $88.29, our system finds the risk reward attractive.
Is Grupo Aeroportuario del Centro Norte S.A.B. de C.V. stock A Buy?
Grupo Aeroportuario del Centro Norte 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: 0.000 Open Broker Account
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.Hold/Accumulate Unchanged
Predicted Opening Price for Grupo Aeroportuario del Centro Norte S.A.B. de C.V. of Wednesday, March 29, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price March 29, 2023||Current price|
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Trading levels for OMAB
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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About Grupo Aeroportuario del Centro Norte S.A.B. de C.V.
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities. It also operates the NH Collection Hotel in Terminal 2 of the Mexico City Internat... OMAB Profile
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