NexPoint Residential Trust Inc Stock Forecast
NexPoint Residential Trust Inc stock upgraded from Hold/Accumulate to Strong Buy Candidate after Friday trading session.
(Updated on May 31, 2024)
The NexPoint Residential Trust Inc stock price gained 2.40% on the last trading day (Friday, 31st May 2024), rising from $35.81 to $36.67. During the last trading day the stock fluctuated 2.10% from a day low at $36.02 to a day high of $36.77. The price has been going up and down for this period, and there has been a 0.85% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 170 thousand shares were bought and sold for approximately $6.25 million.
The stock lies in the middle of a 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 24.57% during the next 3 months and, with a 90% probability hold a price between $43.00 and $47.20 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 $36.10 and $34.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 19.14%. Further rise is indicated until a new top pivot has been found. 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. 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
NexPoint Residential Trust Inc finds support from accumulated volume at $35.80 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 $0.755 between high and low, or 2.10%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: $35.26 (-3.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (NXRT) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect NexPoint Residential Trust Inc to open at $36.49, and during the day (based on 14 day Average True Range), to move between $35.83 and $37.51, which gives a possible trading interval of +/-$0.84 (+/-2.30%) 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 4.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $35.80, some $0.87 (2.37%) from the current price of $36.67, our system finds the risk reward attractive.
Is NexPoint Residential Trust Inc stock A Buy?
NexPoint Residential Trust Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.377 Strong Buy Candidate Upgraded
Predicted Opening Price for NexPoint Residential Trust Inc of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $36.49 ( 0.504%) | $36.67 |
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 | 37.24 | 1.55 % | |
| R2 | 36.95 | 0.768 % | ||
| R1 | 36.77 | 0.282 % | ||
| Current price: | 36.67 | |||
| Support | S1 | 36.20 | -1.29 % | |
| S2 | 36.02 | -1.78 % | ||
| S3 | 35.73 | -2.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 36.67 | |||
| Support | S1 | 35.80 | -2.37% | |
| S2 | 29.95 | -18.33% | ||
| S3 | 29.88 | -18.52% |
NXRT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 14, 2024 | $0 | 0% |
| 2 | Feb 20, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.462 | 1.44% |
| 3 | Oct 31, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.460 | 1.34% |
| 4 | Jul 25, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.420 | 1.31% |
| 5 | Apr 25, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.420 | 0.92% |
FAQ
Click here for our free guide on how to buy NexPoint Residential Trust Inc Stock.
