New Concept Energy, Inc Stock Forecast

Stronger technical forecast for New Concept Energy, Inc stock price after Wednesday trading.
(Updated on Apr 17, 2024)

GBR Signals & Forecast

The New Concept Energy, Inc 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 $1.15. On a fall, the stock will find some support from the long-term average at approximately $1.08. 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. 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 Thursday, April 04, 2024, and so far it has fallen -9.09%. Further fall is indicated until a new bottom pivot has been found. 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. 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.

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.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0900 between high and low, or 8.18%. For the last week the stock has had daily average volatility of 15.93%.

Our recommended stop-loss: $1.04 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (GBR) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect New Concept Energy, Inc to open at $1.13, and during the day (based on 14 day Average True Range), to move between $1.01 and $1.19, which gives a possible trading interval of +/-$0.0946 (+/-8.60%) 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 17.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.12 (1.82%) than the support at $1.05 (4.55%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for New Concept Energy, Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.556 Buy Candidate Upgraded

Predicted Opening Price for New Concept Energy, Inc of Thursday, April 18, 2024

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