Spark New Zealand Limited Stock Forecast

Spark New Zealand Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)

SPKKY Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.82%. 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). Spark New Zealand Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spark New Zealand Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $12.63. On a fall, the stock will find some support from the short-term average at $12.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Spark New Zealand Limited stock

Spark New Zealand Limited finds support from accumulated volume at $12.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.250 between high and low, or 2.02%. For the last week the stock has had daily average volatility of 1.35%.

Our recommended stop-loss: $11.95 (-5.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)

Trading Expectations (SPKKY) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Spark New Zealand Limited to open at $12.55, and during the day (based on 14 day Average True Range), to move between $12.39 and $12.81, which gives a possible trading interval of +/-$0.206 (+/-1.63%) up or down from last closing price. If Spark New Zealand Limited takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $12.45 (1.19%) than the resistance at $13.71 (8.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Spark New Zealand Limited stock A Buy?

Spark New Zealand 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.225 Hold/Accumulate Upgraded

Predicted Opening Price for Spark New Zealand Limited of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.