Extremely significant positive changes in The9 Ltd (NASDAQ: NCTY) investment behavior have recently occurred: its shorter term price trend turned up, its longer term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
The9 Ltd (NASDAQ: NCTY). Marginal positive changes in fundamentals have recently occurred: the stock’s power rating rose above 70.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
NCTY is expected to continue to be a modest Value Eraser reflecting capital returns that are forecasted to be below the cost of capital.
The9 has a current Value Trend Rating of C (Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. The9 has a slightly negative Appreciation Score of 34 but a good Power Rating of 82, triggering the Neutral Value Trend Rating.
Recent Price Action
The9 Ltd (NASDAQ: NCTY) stock closed at $8.51 on 10/10/24 after a large increase of 4.2%. Moreover, trading volume in this advance was exceptionally high at 420% of normal. The stock has risen 33.8% during the last week and has been exceptionally strong relative to the market over the last nine months.
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