Shares Primed For A Rally: New Media Investment Group Inc. (NEWM), Provident Bancorp, Inc. (PVBC)

New Media Investment Group Inc. (NYSE:NEWM) has its shares plummet by -45.85% or $7.45 from its all-time high of $16.25, with NEWM attaining that price back on October 22, 2018. The drop in the price of the shares saw it stand at $8.8 per share. NEWM has been trading at a low of $7.08 over the past one year but it surged by 24.29% or $1.72 to reach the $8.8 mark. Following the massive rise in stock price, NEWM received more attention from investors and analysts. On Thursday, the stock plunged by 2.56%, which caused investors and analysts to excite about it. Following the plunge in price, the NEWM beta stands at 1.18, implying that its volatility level has gone up by -0.18 ahead of the general market. A look at the stock’s 200-day moving average shows that it is -16.03% below while its 50-day moving average shows that it is currently 2.01% above. Compared to 4.63% average daily volatility of past month, the stock’s average volatility for this week has decreased by -0.19 as the volatility level currently stands at 4.44%.

Over the past seven days, the stock has witnessed a price surge by 14.14%. This massive rise in stock price has caught the attention of both investors and market traders. The stock has performed poorly over the past 52 weeks, dropping by -44.83% during that time frame and is now down by -23.94% since this point this year. NEWM has surged by 1.38% over the past 30 days, with its equity price losing% of its value over the past ninety days. These figures add up to see the stock record a shortfall of -17.76% over the past six months.

Market analysts from research firms still remain bullish about the short-term performance of NEWM. Most of them are of the view that the stock would be able to reach $11 over the next 12 months. If that happens, then the stock would witness a 25% rise in its price and that would see the stock’s market cap hit an astonishing $660 Million. Analysts view this stock as a bullish at the moment as its average rating is 1. According to Reuters, most of the 1 analysts covering the stock at the moment believe it is a Buy. 0 of them rated NEWM as a Hold while 1 of them either rated it as a Buy or a Strong Buy. However, 0 of them advised investors to sell the stock if they have it or shouldn’t buy it if they don’t possess any.

The stock’s technical analysis reveals that its 14-day Relative Strength Index (RSI) is currently in a neutral position as it was able to attain 54.52 points. The trading volume now standing at 1564638 shares. The decrease of -385362 shares in trading volume shows that traders and investors have shown less interest in the stock over the past few weeks. During that trading session, the average trading volume of NEWM was 1950000 shares, which is more than 0.8 times higher than its usual trading volume.

Provident Bancorp, Inc. has seen its stock (NASDAQ:PVBC) plunge by $-11.33 or -51.15% to currently trade at $10.82. This fall in the price of the stock has seen it establish a strong support at $10.73 a share. If the stock price is to drop below that support level, then it would be followed by a bearish trend. A slip below $10.64 would be bad for PVBC as it would mean that the stock has lost 1.66% of its value. The stock going in the opposite direction and breaking past the resistance point to reach $10.93 would see it surge even higher. PVBC would attempt to surge past the upward resistance point which is set at $11.04 a share. PVBC has an average volatility of 2.05% over the past 30 days, while it has gained -83.09% of its value compared to its 52-weeks low point which stands at $19.81 on Oct 17, 2019. In the same breath, PVBC has lost 0.65% compared to its 52-weeks high point which currently stands at $10.75 a share reached on Jul 26, 2019.

The stock is currently oversold as its Stochastic Oscillator (%D) is at 16.09%, which implies that a jump in price could be experienced soon. Its shares P/S ratio is above theindustry average and above theby the wider market, as PVBC’s P/S ratio currently stands at 2.2. The stock’s estimated price-earnings (P/E) multiple is 0 which is also below the 12-month price-earnings (P/E) which stands at 10.44. Provident Bancorp, Inc. has experienced a rise in its earnings, recording an increase rate of 18.9% in each quarter over the past five years.