NEXON Co.,Ltd. Stock Forecast

Evaluation of NEXON Co.,Ltd. stock downgraded after the last trading session.
(Updated on Jul 02, 2024)

3659.T Signals & Forecast

The NEXON Co.,Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥2,944.29. On a fall, the stock will find some support from the long-term average at approximately JP¥2,766.91. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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, June 26, 2024, and so far it has fallen -1.56%. 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 NEXON Co.,Ltd. stock

NEXON Co.,Ltd. finds support from accumulated volume at JP¥2,892.00 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 JP¥68.50 between high and low, or 2.37%. For the last week, the stock has had daily average volatility of 2.48%.

Our recommended stop-loss: JP¥2,818.99 (-3.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (3659.T) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect NEXON Co.,Ltd. to open at JP¥2,930.83, and during the day (based on 14 day Average True Range), to move between JP¥2,837.66 and JP¥3,028.34, which gives a possible trading interval of +/-JP¥95.34 (+/-3.25%) up or down from last closing price. If NEXON Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 6.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at JP¥2,951.00 (0.61%) than the support at JP¥2,892.00 (1.40%), 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 NEXON Co.,Ltd. stock A Buy?

NEXON Co.,Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.826 Hold/Accumulate Downgraded

Predicted Opening Price for NEXON Co.,Ltd. of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.