Wed 17'th Oct 2018
New Age Beverages Corp Stock Analysis
Technical stock analysis for Wed 17'th Oct 2018
|Shorts||0.32% ( 2018-09-28 )|
New Age Beverages Corp fell by -8.73% in the last day from $6.99 to $6.38 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days and is down by -21.33% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -8.13 million shares and in total 9.10 million shares bought and sold for approximately $58.03 million.
New Age Beverages Corp lies in the middle of a very 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 141.74% during the next 3 months and, with 90% probability hold a price between $9.14 and $24.31 at the end of this period.
New Age Beverages Corp holds buy signals from both short- and long-term moving averages. In addition, 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 $6.38 and $4.55. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday October 15, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 59 and the stock is currently not being overbought or oversold
Support & Resistance
New Age Beverages Corp finds support from accumulated volume at $6.15.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.75 between high and low, or 12.10%. For the last week, the stock has had a daily average volatility of 13.05%.
Our recommended stoploss: $5.82 (-8.76%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 2 days ago.)
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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 this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.Click for Top 5 Buy Candidates
|NBEV $6.38 $-0.61(-8.73%)|
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