Incredible Moves in Newsmax and Walton Financial

It reads like an April Fools joke. In a market like this, there’s a stock that IPO’d at $10, started trading at $14 and popped over $285 a day later in after-hours trading. Nope, this is not a joke. It’s the curious story of Newsmax (NMAX). It’s only been trading for two days and has already captured the market’s collective attention.The only way to do any sort of “analysis” on this one is to dig into the price action over the last two days using intraday charts. Here you can see the pullbacks really only made it to the first standard deviation beneath the VWAP. Funnier part about this is it’s not the only recent IPO going bonkers. Look at Walton Financial (WTF). And, yes, the ticker is exactly my reaction.Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.Dave Bartosiak's technical analysis approach adds depth to our understanding Newsmax’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks