New Age Beverages Corp Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
New Age Beverages Corp gained 10.48% in the last trading day, rising from $5.44 to $6.01 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 66.02% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 4.14 million more shares were traded than the day before. In total, 30.47 million shares bought and sold for approximately $183.10 million.
New Age Beverages Corp lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.71% during the next 3 months and, with 90% probability hold a price between $2.06 and $7.14 at the end of this period.
Only positive signals in the chart today. 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 $5.08 and $4.31. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday December 04, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $5.44 and $5.35.
There is 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, New Age Beverages Corp finds support just below today's level at $5.44. If this is broken, then the next support from accumulated volume will be at $5.35 and $5.05.
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 $0.82 between high and low, or 15.02%. For the last week, the stock has had a daily average volatility of 13.61%.
Our recommended stoploss: $5.70 (-5.23%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from pivot bottom found 5 days ago.)
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New Age Beverages Corp holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect stock will perform very well in the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.
|NBEV $6.01 $0.57(10.48%)|
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