New Concept Energy, Inc Stock Forecast
Evaluation of New Concept Energy, Inc stock downgraded after the last trading session.
(Updated on Mar 27, 2024)
No changes to the price of New Concept Energy, Inc stock on the last trading day (Wednesday, 27th Mar 2024). During the last trading day the stock fluctuated 1.87% from a day low at $1.06 to a day high of $1.08. The price has risen in 4 of the last 10 days and is up by 3.92% over the past 2 weeks.
The stock lies in the middle of a wide and weak 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 2.56% during the next 3 months and, with a 90% probability hold a price between $1.02 and $1.13 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GBR Signals & Forecast
The New Concept Energy, Inc 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 $1.05 and $1.03. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, March 25, 2024, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, March 07, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, March 07, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for New Concept Energy, Inc stock
New Concept Energy, Inc finds support from accumulated volume at $1.05 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 therefore the general risk is considered very 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 $0.0198 between high and low, or 1.87%. For the last week the stock has had daily average volatility of 2.71%
Our recommended stop-loss: $1.01 (-4.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (GBR) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect New Concept Energy, Inc to open at $1.07, and during the day (based on 14 day Average True Range), to move between $1.02 and $1.10, which gives a possible trading interval of +/-$0.0401 (+/-3.78%) up or down from last closing price. If New Concept Energy, Inc takes out the full calculated possible swing range there will be an estimated 7.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.07 (0.47%) than the support at $1.05 (0.94%), 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 New Concept Energy, Inc stock A Buy?
New Concept Energy, Inc 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: 0.793 Hold/Accumulate Downgraded
Predicted Opening Price for New Concept Energy, Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$1.07 ( 0.623%) | $1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.09 | 2.49 % | |
R2 | 1.08 | 1.78 % | ||
R1 | 1.07 | 1.34 % | ||
Current price: | 1.06 | |||
Support | S1 | 1.06 | -0.0909 % | |
S2 | 1.05 | -0.532 % | ||
S3 | 1.05 | -1.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 1.08 | 1.89 % | ||
R1 | 1.07 | 0.472 % | ||
Current price | 1.06 | |||
Support | S1 | 1.05 | -0.94% | |
S2 | 1.04 | -1.57% | ||
S3 | 1.03 | -2.83% |
FAQ
Click here for our free guide on how to buy New Concept Energy, Inc Stock.