NEWT Forecast and Technical Stock Analysis
Buy candidate since 2019-11-15 PDF
Newtek Business Services Corp. gained 1.37% in the last trading day ( Friday, 15th Nov 2019 ), rising from $22.65 to $22.96 During the day the stock fluctuated 1.95% from a day low at $22.60 to a day high of $23.04. The price has risen in 6 of the last 10 days and is up by 3.8% 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, 89 776 more shares were traded than the day before. In total, 172 608 shares bought and sold for approximately $3.96 million.
- 30 day high of the NEWT stock price was $23.60 and low was $21.65.
- 90 day high was $23.99 and low was $20.75.
- 52 week high for Newtek Business Services Corp. - $23.99 and low - $15.59.
Newtek Business Services Corp. is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Newtek Business Services Corp. with a 90% probability to be traded between $20.56 and $23.18 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Newtek Business Services 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 $22.76 and $22.08. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday November 08, 2019, 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.
* 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.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 66 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Newtek Business Services Corp. finds support from accumulated volume at $22.87.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.44 (1.95%) between high and low. For the last week, the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: $21.75 (-5.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
1.62 %Average volatility
Very Low Low Medium High Very High
Several short-term signals 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 period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
|NEWT $22.96 ($0.31 1.37%)|
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Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!