NEOGAMES SA (NGMS) Stock Technical Analysis
NASDAQ:NGMS - Nasdaq - LU2263803020 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to NGMS. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NGMS is showing a nice and steady performance.
Besides having an excellent technical rating, NGMS also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 29.46. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 29.36, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
25.86
4 important support areas can be observed.
- A support zone ranging from 28.79 to 29.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Strong support @28.25 from a horizontal line in the daily time frame.
- Support @27.65 from a horizontal line in the daily time frame.
- Support @26.12 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 29.46 to 29.60. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NGMS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NGMS is up. |
| ChartMill Relative Strength | 95.35 | POSITIVE | NGMS has a high relative strength, it outperformed 95.35% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NGMS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NGMS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NGMS is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 73.46 | OVERBOUGHT | The high RSI value suggests NGMS may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests NGMS has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 95.32 | OVERBOUGHT | The high Stochastics value suggests NGMS may be overbought. |
| Average True Range in percent/ATR (20) | 0.34 | LOW VOLATILITY | The low ATR as a percentage value for NGMS suggests low volalility. |
| Average Directional Index/ADX (14) | 51.77 | POSITIVE | The high ADX value value for NGMS suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 29.61 | 29.01 | 0.60 (2.03%) | 25.00% |
| An entry @29.61. This is a Buy Stop order right above the resistance zone. | An exit @29.01. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.60 points, which is 2.03%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.51%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
NASDAQ:NGMS (4/23/2024, 8:15:31 PM)
29.45
+0.02 (+0.07%)