NexPoint Residential Trust Inc Stock Forecast
NexPoint Residential Trust Inc stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The NexPoint Residential Trust Inc stock price gained 0.85% on the last trading day (Wednesday, 24th Apr 2024), rising from $33.02 to $33.30. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.09% from a day low at $32.67 to a day high of $33.68. The price has risen in 6 of the last 10 days and is up by 3.48% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 107 thousand shares were bought and sold for approximately $3.58 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $33.68 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.42% during the next 3 months and, with a 90% probability hold a price between $30.44 and $35.17 at the end of this 3-month period.
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NXRT Signals & Forecast
The NexPoint Residential Trust Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $32.06 and $31.26. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, April 09, 2024, and so far it has fallen -0.389%. 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).
Support, Risk & Stop-loss for NexPoint Residential Trust Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $30.95 and $29.95. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NexPoint Residential Trust Inc finds support just below today's level at $30.95. If this is broken, then the next support from accumulated volume will be at $29.95 and $29.88.
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 $1.01 between high and low, or 3.09%. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: $32.04 (-3.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (NXRT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect NexPoint Residential Trust Inc to open at $33.22, and during the day (based on 14 day Average True Range), to move between $32.40 and $34.20, which gives a possible trading interval of +/-$0.90 (+/-2.70%) up or down from last closing price. If NexPoint Residential Trust Inc takes out the full calculated possible swing range there will be an estimated 5.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.43 (0.39%) than the support at $30.95 (7.06%), 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.
Earnings coming up
NexPoint Residential Trust Inc will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.86. We will update the financials statements for NexPoint Residential Trust Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.91% in the first trading day after earnings release.
Is NexPoint Residential Trust Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NexPoint Residential Trust Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.846 Buy Candidate Upgraded
Predicted Opening Price for NexPoint Residential Trust Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $33.22 ( 0.250%) | $33.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NXRT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.23 | 2.78 % | |
| R2 | 33.84 | 1.62 % | ||
| R1 | 33.60 | 0.91 % | ||
| Current price: | 33.30 | |||
| Support | S1 | 32.83 | -1.41 % | |
| S2 | 32.59 | -2.12 % | ||
| S3 | 32.21 | -3.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 33.43 | 0.390 % | ||
| Current price | 33.30 | |||
| Support | S1 | 30.95 | -7.06% | |
| S2 | 29.95 | -10.06% | ||
| S3 | 29.88 | -10.27% |
NXRT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.462 | 1.44% |
| 2 | Oct 31, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.460 | 1.34% |
| 3 | Jul 25, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.420 | 1.31% |
| 4 | Apr 25, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.420 | 0.92% |
| 5 | Feb 21, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.420 | 0.96% |
FAQ
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