Nano Dimension Stock Forecast
Evaluation of Nano Dimension stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
The Nano Dimension stock price fell by -0.536% on the last day (Thursday, 28th Mar 2024) from $2.80 to $2.79. During the last trading day the stock fluctuated 3.37% from a day low at $2.77 to a day high of $2.87. The price has been going up and down for this period, and there has been a -0.18% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -61 thousand shares and in total, 1 million shares were bought and sold for approximately $3.12 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 32.08% during the next 3 months and, with a 90% probability hold a price between $3.56 and $4.07 at the end of this 3-month period.
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NNDM Signals & Forecast
The Nano Dimension stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2.76 and $2.77. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -5.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Nano Dimension stock
Nano Dimension finds support from accumulated volume at $2.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0935 between high and low, or 3.37%. For the last week, the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NNDM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Nano Dimension Ltd to open at $2.81, and during the day (based on 14 day Average True Range), to move between $2.66 and $2.91, which gives a possible trading interval of +/-$0.125 (+/-4.49%) up or down from last closing price. If Nano Dimension Ltd takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.84 (1.97%) than the support at $2.69 (3.41%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nano Dimension Ltd stock A Buy?
Nano Dimension holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.024 Sell Candidate Downgraded
Predicted Opening Price for Nano Dimension Ltd of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$2.81 ( 0.82%) | $2.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NNDM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.90 | 4.18 % | |
R2 | 2.87 | 2.89 % | ||
R1 | 2.84 | 2.10 % | ||
Current price: | 2.79 | |||
Support | S1 | 2.77 | -0.463 % | |
S2 | 2.75 | -1.25 % | ||
S3 | 2.71 | -2.54 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.92 | 4.85 % | |
R2 | 2.88 | 3.41 % | ||
R1 | 2.84 | 1.97 % | ||
Current price | 2.79 | |||
Support | S1 | 2.69 | -3.41% | |
S2 | 2.40 | -13.82% | ||
S3 | 2.29 | -17.77% |
FAQ
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