Weaker Buy Today NJR ranks #401 as BUY CANDIDATE. Stronger Buy
Today NJR ranks #401 as BUY CANDIDATE.

NJR stock NewJersey Resources Corporation

NJR stock
NewJersey Resources Corporation

22 January 2019
Change 0.58%
Chart period: 2018-10-23 - 2019-01-22
VOLUME
Sell
TREND
Sell

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy
Request Prediction
Predict

NewJersey Resources Corporation Stock Analysis

Technical stock analysis for 22 January 2019

Buy candidate since 2019-01-22
Shorts 4.12% ( 2018-12-31 )
Cash n/a
Loans n/a
Beta 0.30
ROA 5.78

NewJersey Resources Corporation gained 0.58% in the last trading day, rising from $46.90 to $47.17 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 7 of the last 10 days and is up by 6.67% over the past 2 weeks. Volume fell in the last day by -125 744 shares, and in total, 445 244 shares bought and sold for approximately $21.00 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.

Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the NJR stock was $47.17. This is 0.58% more than the trading day before Friday, 18th Jan 2019.

During day the stock fluctuated 1.50% from a day low at $46.62 to a day high of $47.32.

30 day high of the NJR stock price was $47.99 and low was $43.51.
90 day high was $51.83 and low was $43.51.
52 week high for the NewJersey Resources Corporation - $51.83 and low - $35.55.

Trend

NewJersey Resources Corporation lies in the middle of a 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 -2.78% during the next 3 months and, with 90% probability hold a price between $42.43 and $48.77 at the end of this period.

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Signals

Only positive signals in the chart today. NewJersey Resources Corporation holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $45.66 and $46.93. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday January 14, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

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Relative Strength Index (RSI)

RSI14 is 57 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

NewJersey Resources Corporation finds support from accumulated volume at $45.33.

Support: $45.33 Price: $47.17 Resistance: $47.23

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.70 (1.50%) between high and low. For the last week, the stock has had a daily average volatility of 2.01%.

Since the NewJersey Resources Corporation has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stoploss: $45.44 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)

Overall risk:

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Evaluation

Several short-term signals are positive, despite the stock being in a falling trend, 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.

Weaker Buy Today NJR ranks #401 as BUY CANDIDATE. Stronger Buy
Today NJR ranks #401 as BUY CANDIDATE.