New World Development (OTCMKTS:NDVLY) Stock Price Crosses Below 50 Day Moving Average - Should You Sell?

Key Points

• New World Development's share price fell below its 50-day moving average of $0.38, trading as low as $0.36 before closing at $0.37.
• Goldman Sachs upgraded the stock's rating from "strong sell" to "hold," reflecting a cautious optimism from analysts.
• The company's property portfolio includes a diverse range of assets such as residential, retail, and industrial properties, in addition to offering commercial aircraft leasing services.

New World Development Co. (OTCMKTS:NDVLY - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.38 and traded as low as $0.36. New World Development shares last traded at $0.37, with a volume of 11,680 shares.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of New World Development from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

New World Development Trading Up 15.1%

The company has a 50-day moving average price of $0.38 and a 200-day moving average price of $0.35.

About New World Development

New World Development Company Limited, an investment holding company, operates in the property development and investment business in Hong Kong and Mainland China. Its property portfolio includes residential, retail, office, and industrial properties. The company also provides commercial aircraft leasing services; operates expressways; and constructs residential and commercial projects, as well as whole life, term, dread disease, medical, disability, and accident insurance products.