NewJersey Resources Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
NewJersey Resources Corporation stock price up 2.77% on Friday
(Updated on Apr 19, 2024)
The NewJersey Resources Corporation stock price gained 2.77% on the last trading day (Friday, 19th Apr 2024), rising from $42.19 to $43.36. It has now gained 3 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. During the last trading day the stock fluctuated 2.84% from a day low at $42.19 to a day high of $43.39. The price has been going up and down for this period, and there has been a 1.36% gain for the last 2 weeks. Volume fell on the last day by -127 thousand shares and in total, 303 thousand shares were bought and sold for approximately $13.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $44.02 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.65% during the next 3 months and, with a 90% probability hold a price between $41.50 and $45.19 at the end of this 3-month period.
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NJR Signals & Forecast
The NewJersey Resources Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, 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 $41.95 and $42.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 5.09%. Further rise is indicated 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 it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, February 29, 2024 in the short-term chart.
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.
Golden Star
The stock had a Golden Star Signal on Thursday, February 29, 2024 in the short-term chart.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.
Support, Risk & Stop-loss for NewJersey Resources Corporation stock
NewJersey Resources Corporation finds support from accumulated volume at $42.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.20 between high and low, or 2.84%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $41.17 (-5.05%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (NJR) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect NewJersey Resources Corporation to open at $42.98, and during the day (based on 14 day Average True Range), to move between $42.57 and $44.15, which gives a possible trading interval of +/-$0.785 (+/-1.81%) up or down from last closing price. If NewJersey Resources Corporation takes out the full calculated possible swing range there will be an estimated 3.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.51 (0.35%) than the support at $42.91 (1.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NewJersey Resources Corporation stock A Buy?
NewJersey Resources Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.984 Hold/Accumulate Unchanged
Predicted Opening Price for NewJersey Resources Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $42.98 ( 0.88%) | $43.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NJR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.18 | 1.89 % | |
| R2 | 43.72 | 0.83 % | ||
| R1 | 43.44 | 0.181 % | ||
| Current price: | 43.36 | |||
| Support | S1 | 42.52 | -1.93 % | |
| S2 | 42.24 | -2.59 % | ||
| S3 | 41.78 | -3.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 43.51 | 0.346 % | ||
| Current price | 43.36 | |||
| Support | S1 | 42.91 | -1.04% | |
| S2 | 41.28 | -4.80% | ||
| S3 | 40.91 | -5.65% |
NJR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Mar 12, 2024 | Apr 01, 2024 | $0.420 | 0.98% |
| 2 | Nov 16, 2023 | Dec 12, 2023 | Jan 02, 2024 | $0.420 | 0.93% |
| 3 | Jul 12, 2023 | Sep 19, 2023 | Oct 02, 2023 | $0.390 | 0.99% |
| 4 | Apr 05, 2023 | Jun 13, 2023 | Jul 03, 2023 | $0.390 | 0.82% |
| 5 | Jan 25, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.390 | 0.741% |
FAQ
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