Newpark Resources Inc Stock Forecast
Newpark Resources Inc stock price ended at $7.28 on Thursday, after losing 0.274%.
(Updated on Apr 18, 2024)
The Newpark Resources Inc stock price fell by -0.274% on the last day (Thursday, 18th Apr 2024) from $7.30 to $7.28. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.61% from a day low at $7.28 to a day high of $7.47. The price has fallen in 6 of the last 10 days and is down by -4.08% for this period. Volume has increased on the last day by 110 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 606 thousand shares were bought and sold for approximately $4.41 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.13 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 26.32% during the next 3 months and, with a 90% probability hold a price between $9.01 and $10.02 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NR Signals & Forecast
A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -5.33%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Newpark Resources Inc 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 $7.46. On a fall, the stock will find some support from the long-term average at approximately $7.21. 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.
Support, Risk & Stop-loss for Newpark Resources Inc stock
Newpark Resources Inc finds support from accumulated volume at $7.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.190 (2.61%) between high and low. For the last week, the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: $6.98 (-4.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (NR) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Newpark Resources Inc to open at $7.34, and during the day (based on 14 day Average True Range), to move between $7.06 and $7.50, which gives a possible trading interval of +/-$0.223 (+/-3.07%) up or down from last closing price. If Newpark Resources Inc takes out the full calculated possible swing range there will be an estimated 6.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.22 (0.82%) than the resistance at $7.36 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Newpark Resources Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.591 Buy Candidate Unchanged
Predicted Opening Price for Newpark Resources Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $7.34 ( 0.87%) | $7.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.53 | 3.48 % | |
| R2 | 7.46 | 2.48 % | ||
| R1 | 7.42 | 1.87 % | ||
| Current price: | 7.28 | |||
| Support | S1 | 7.27 | -0.127 % | |
| S2 | 7.23 | -0.743 % | ||
| S3 | 7.15 | -1.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.51 | 3.16 % | |
| R2 | 7.48 | 2.75 % | ||
| R1 | 7.36 | 1.10 % | ||
| Current price | 7.28 | |||
| Support | S1 | 7.22 | -0.82% | |
| S2 | 6.61 | -9.20% | ||
| S3 | 6.19 | -14.97% |
FAQ
Click here for our free guide on how to buy Newpark Resources Inc Stock.
