Newegg Stock: Online Retailer of Products, Including Computer Hardware and Consumer Electronics
Newegg stock price today is 67.57 USD with a volume of 76,187,174. At the same time, its chart fluctuates between 28.19 USD – 79.00 USD. Newegg stock price a most of 79.00 USD and at the least 2.8 USD 1 year. The average volume of the stock is 1,112,200, and it is ranked 24.878B in the MarketCap listings. The target point of Newegg stock price at the end of 1 year is not clear yet.
Analysis of Newegg Stock
Newegg stock price rose 148.42% withinside the closing buying and selling day. It rose to $67.57 from the day beginning price of $27.20. This is the 4th day of the uptrend so it will be fun to watch if it will rise 2-3 more in the next.
During the day, the stock fluctuated 180.49%, rising from the day’s low of $28.19 to a one-day high of $79.07. The price has been up in 6 of the past 10 days. It has increased 536.85% in total in the last 2 weeks.
Volume followed suit as price-performance improved. This is a positive technical sign. The risk to the stock is reduced. An overall of 66 million extra stocks had been traded in comparison to the preceding day, with a complete of seventy-five million stocks traded for approximately $5.07 billion.
Newegg stock managed to break through the very broad and strong rise. This breakout signals a gradual uptrend and an even stronger uptrend. There could be support on the roof in the current trend that broke at $19.92, a level we see as a second chance for traders.
Summary of Newegg Stock
Newegg stock has buy signals that give a positive forecast for the stock. Buy signals are available on both short-term and long-term moving averages. Also, the short-time period common is better than the long-time period common. Therefore, there is a general buy signal from the relationship between the two signals. On the downside, it could find some support at $24.56 and $13.33. A breakdown below any of these levels will allow us to receive sell signals.
On May 12, 2021, we acquired a purchase sign from the pivot low at the day, and on the pinnacle of that, we have got a visible boom of 018.71% so far. The increase may continue until it encounters a new upper pivot signal. Also, Newegg stock has a buy signal at the 3-month Moving Average Convergence Divergence. This is a positive technical analysis result as price and volume increase together.
How Does the Stock Move?
Looking at the Newegg stock chart, we can’t see support from the accumulated volume below today’s level. If it goes like this, the stock may perform negatively in the next few days. The stock has a lot of volatility during the day. In addition, Newegg stock is considered high risk over a wide range of predictions from the Bollinger Band.
Over the last day, the stock has moved between the maximum and minimum of $50.88 and 180.49%. Over the past week, the stock has experienced average daily volatility of 75.83%.
Newegg stock was overbought at 96 points on the RSI14. Normally we would consider this a good selling opportunity. However, the stock broke the uptrend. Therefore, the stock will find support in the breaking trend. As a result, there is very little chance of a major correction due to the high RSI.
Should You Buy Newegg Stock?
Newegg stock has a few positive signals. However, these positive signals are not enough to make this stock buy candidate. When we evaluate the stock at the current level, it would be more accurate to describe it as a waiting candidate for now.
The stop-loss that analysts recommend for this stock is $65.49. This stock has a very high daily volatility. High volatility increases risk. The RSI14 is at 96 points, which increases the risk significantly.