NEWT Forecast and Technical Stock Analysis
Sell candidate since 2019-07-19
Newtek Business Services Corp. gained 0.18% in the last trading day ( Friday, 19th Jul 2019 ), rising from $21.76 to $21.80 During the day the stock fluctuated 1.10% from a day low at $21.80 to a day high of $22.04. The price has fallen in 7 of the last 10 days and is down by -5.63% for this period. Volume fell in the last day by -6 895 shares and in total, 58 223 shares bought and sold for approximately $1.27 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the NEWT stock price was $23.40 and low was $21.69.
- 90 day high was $23.83 and low was $20.40.
- 52 week high for Newtek Business Services Corp. - $24.24 and low - $15.59.
Newtek Business Services Corp. lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $21.36 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.82% during the next 3 months and, with 90% probability hold a price between $22.39 and $25.03 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday July 18, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Newtek Business Services Corp. holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $22.00 and $22.44. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
The stock currently holds a RSI14 at 24 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
* 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 $21.50.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Newtek Business Services Corp. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a sell evaluation for this stock. No stop-loss set.
1.70 %Average volatility
Very Low Low Medium High Very High
The Newtek Business Services Corp. stock holds several negative signals and despite the positive trend we believe Newtek Business Services Corp. will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
|NEWT $21.80 ($0.04 0.18%)|
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