NF Energy Saving Corp. Stock Forecast
Volatile ride for NF Energy Saving Corp. stock price on Wednesday moving between $1.75 and $1.99
(Updated on Mar 27, 2024)
The NF Energy Saving Corp. stock price fell by -8.13% on the last day (Wednesday, 27th Mar 2024) from $1.98 to $1.82. During the last trading day the stock fluctuated 13.64% from a day low at $1.75 to a day high of $1.99. The price has fallen in 7 of the last 10 days and is down by -35.04% for this period. Volume has increased on the last day by 12 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, 35 thousand shares were bought and sold for approximately $62.93 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.62 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.54% during the next 3 months and, with a 90% probability hold a price between $1.97 and $5.16 at the end of this 3-month period.
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BIMI Signals & Forecast
There are few to no technical positive signals at the moment. The NF Energy Saving Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.97 and $3.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -54.53%. 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). NF Energy Saving Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NF Energy Saving Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.58. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.239 between high and low, or 13.64%. For the last week, the stock has had daily average volatility of 24.34%.
NF Energy Saving Corp. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BIMI) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect NF Energy Saving Corp. to open at $1.85, and during the day (based on 14 day Average True Range), to move between $1.42 and $2.22, which gives a possible trading interval of +/-$0.401 (+/-22.05%) up or down from last closing price. If NF Energy Saving Corp. takes out the full calculated possible swing range there will be an estimated 44.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.84 (1.15%) than the support at $1.58 (13.14%), 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 NF Energy Saving Corp. stock A Buy?
The NF Energy Saving Corp. stock holds several negative signals and despite the positive trend, we believe NF Energy Saving Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.690 Sell Candidate Unchanged
Predicted Opening Price for NF Energy Saving Corp. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$1.85 ( 1.89%) | $1.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIMI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.09 | 15.02 % | |
R2 | 2.00 | 10.00 % | ||
R1 | 1.94 | 6.91 % | ||
Current price: | 1.82 | |||
Support | S1 | 1.76 | -3.12 % | |
S2 | 1.71 | -6.22 % | ||
S3 | 1.61 | -11.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.21 | 21.50 % | |
R2 | 1.85 | 1.70 % | ||
R1 | 1.84 | 1.15 % | ||
Current price | 1.82 | |||
Support | S1 | 1.58 | -13.14% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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