NV5 Global Stock Forecast
Red day on Wednesday for NV5 Global stock after losing 3.52%
(Updated on May 29, 2024)
The NV5 Global stock price fell by -3.52% on the last day (Wednesday, 29th May 2024) from $94.78 to $91.44. During the last trading day the stock fluctuated 3.36% from a day low at $91.40 to a day high of $94.47. The price has fallen in 6 of the last 10 days and is down by -3.49% for this period. Volume has increased on the last day by 23 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 113 thousand shares were bought and sold for approximately $10.35 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.28% during the next 3 months and, with a 90% probability hold a price between $81.10 and $89.04 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NVEE Signals & Forecast
There are few to no technical positive signals at the moment. The NV5 Global stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $94.44 and $93.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -5.01%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for NV5 Global stock
NV5 Global finds support from accumulated volume at $90.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.08 between high and low, or 3.36%. For the last week the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NVEE) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect NV5 Global to open at $92.44, and during the day (based on 14 day Average True Range), to move between $89.48 and $93.40, which gives a possible trading interval of +/-$1.96 (+/-2.15%) up or down from last closing price. If NV5 Global takes out the full calculated possible swing range there will be an estimated 4.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $90.87 (0.62%) than the resistance at $94.85 (3.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NV5 Global stock A Buy?
NV5 Global holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.821 Sell Candidate Unchanged
Predicted Opening Price for NV5 Global of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| $92.44 ( 1.09%) | $91.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVEE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.51 | 4.45 % | |
| R2 | 94.34 | 3.17 % | ||
| R1 | 93.61 | 2.37 % | ||
| Current price: | 91.44 | |||
| Support | S1 | 91.26 | -0.196 % | |
| S2 | 90.53 | -0.99 % | ||
| S3 | 89.36 | -2.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.31 | 10.79 % | |
| R2 | 100.51 | 9.92 % | ||
| R1 | 94.85 | 3.73 % | ||
| Current price | 91.44 | |||
| Support | S1 | 90.87 | -0.623% | |
| S2 | 90.04 | -1.53% | ||
| S3 | 89.46 | -2.17% |
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