Nevada Gold & Casinos Forecast and Stock Analysis
Technical UWN stock analysis for Wednesday June 19, 2019.
No changes to the price of Nevada Gold & Casinos in the last trading day ( Wednesday, 19th Jun 2019 ). During day the stock fluctuated 0.00% from a day low at $2.54 to a day high of $2.54. The price has risen in 5 of the last 10 days and is up by 1.8% over the past 2 weeks.
- 30 day high of the UWN stock price was $2.56 and low was $2.48.
- 90 day high was $2.56 and low was $2.46.
- 52 week high for the Nevada Gold & Casinos - $2.60 and low - $1.80.
Nevada Gold & Casinos is the upper part of a narrow and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $2.54 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Nevada Gold & Casinos with 90% probability to be traded between $2.52 and $2.58 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.
Nevada Gold & Casinos 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 $2.53 and $2.49. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday June 18, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
* 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)
The stock holds a RSI14 at 71 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Nevada Gold & Casinos finds support from accumulated volume at $2.49.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.00 between high and low, or 0.00%. For the last week the stock has had a daily average volatility of 0.48%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $2.45 (-3.58%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 71 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
0.48 %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.
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|UWN $2.54 ($0.00 0.00%)|
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