The9 Limited Stock Forecast
The9 Limited stock upgraded to Buy Candidate.
(Updated on Apr 18, 2024)
The The9 Limited stock price gained 4.35% on the last trading day (Thursday, 18th Apr 2024), rising from $5.75 to $6.00. During the last trading day the stock fluctuated 6.79% from a day low at $5.63 to a day high of $6.02. The price has been going up and down for this period, and there has been a -5.21% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 22 thousand shares were bought and sold for approximately $132.28 thousand.
The stock lies in the middle of a very 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 8.12% during the next 3 months and, with a 90% probability hold a price between $5.43 and $7.54 at the end of this 3-month period.
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NCTY Signals & Forecast
The The9 Limited 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 $6.02. On a fall, the stock will find some support from the long-term average at approximately $5.78. 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. The9 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -11.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The9 Limited stock
The9 Limited finds support from accumulated volume at $5.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the 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 $0.382 between high and low, or 6.79%. For the last week, the stock has had daily average volatility of 11.67%.
Our recommended stop-loss: $5.66 (-5.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (NCTY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect The9 Limited to open at $5.88, and during the day (based on 14 day Average True Range), to move between $5.51 and $6.49, which gives a possible trading interval of +/-$0.488 (+/-8.13%) up or down from last closing price. If The9 Limited takes out the full calculated possible swing range there will be an estimated 16.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.95 (0.83%) than the resistance at $6.06 (1.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The9 Limited 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 The9 Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.485 Buy Candidate Upgraded
Predicted Opening Price for The9 Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.88 ( 1.96%) | $6.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.26 | 4.41 % | |
| R2 | 6.12 | 1.98 % | ||
| R1 | 6.03 | 0.477 % | ||
| Current price: | 6.00 | |||
| Support | S1 | 5.74 | -4.39 % | |
| S2 | 5.65 | -5.89 % | ||
| S3 | 5.50 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.79 | 13.17 % | |
| R2 | 6.38 | 6.33 % | ||
| R1 | 6.06 | 1.00 % | ||
| Current price | 6.00 | |||
| Support | S1 | 5.95 | -0.83% | |
| S2 | 5.82 | -3.00% | ||
| S3 | 5.38 | -10.33% |
NCTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 21, 2009 | Jan 29, 2009 | Oct 19, 2020 | $33.30 | 130.59% |
FAQ
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