Newtek Business Services Corp. Stock Forecast

Stronger technical forecast for Newtek Business Services Corp. stock price after Friday trading.
(Updated on Apr 26, 2024)

NEWT Signals & Forecast

There are few to no technical positive signals at the moment. The Newtek Business Services Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.18. On a fall, the stock will find some support from the short-term average at $10.95. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -11.08%. 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 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.

Support, Risk & Stop-loss for Newtek Business Services Corp. stock

Newtek Business Services Corp. finds support from accumulated volume at $10.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.250 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 2.69%.

Newtek Business Services Corp. is oversold on RSI14 (23). 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 negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NEWT) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Newtek Business Services Corp. to open at $10.99, and during the day (based on 14 day Average True Range), to move between $10.62 and $11.38, which gives a possible trading interval of +/-$0.384 (+/-3.49%) up or down from last closing price. If Newtek Business Services Corp. takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $10.88 (1.09%) than the resistance at $11.42 (3.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Newtek Business Services Corp. stock A Buy?

Newtek Business Services Corp. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.003 Sell Candidate Upgraded

Predicted Opening Price for Newtek Business Services Corp. of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.