Nexters Inc Stock Forecast
Nexters Inc stock price up more than 6.33% on Tuesday
(Updated on Jun 25, 2024)
The Nexters Inc stock price gained 6.33% on the last trading day (Tuesday, 25th Jun 2024), rising from $2.37 to $2.52. During the last trading day the stock fluctuated 3.28% from a day low at $2.44 to a day high of $2.52. The price has risen in 4 of the last 10 days and is up by 8.15% 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, 753 more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $12.02 thousand.
The stock lies in the upper part of a very 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 $2.60 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.91% during the next 3 months and, with a 90% probability hold a price between $2.14 and $2.73 at the end of this 3-month period.
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GDEV Signals & Forecast
Mostly positive signals in the chart today. The Nexters 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 $2.51 and $2.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 6.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Nexters Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nexters Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.31 and $2.20. 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, Nexters Inc finds support just below today's level at $2.31. If this is broken, then the next support from accumulated volume will be at $2.20 and $2.13.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 3.58%.
Our recommended stop-loss: $2.43 (-3.70%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GDEV) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Nexters Inc to open at $2.49, and during the day (based on 14 day Average True Range), to move between $2.36 and $2.68, which gives a possible trading interval of +/-$0.161 (+/-6.38%) up or down from last closing price. If Nexters Inc takes out the full calculated possible swing range there will be an estimated 12.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.60 (3.17%) than the support at $2.31 (8.33%), 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 Nexters 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 Nexters 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: 4.012 Buy Candidate Upgraded
Predicted Opening Price for Nexters Inc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $2.49 ( 1.06%) | $2.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDEV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.57 | 2.12% |
| R2 | 2.54 | 0.90% |
| R1 | 2.52 | 0.154% |
| Price | 2.52 | |
| S1 | 2.46 | -2.27% |
| S2 | 2.44 | -3.02% |
| S3 | 2.41 | -4.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 2.60 | 3.17% |
| Price | 2.52 | |
| S1 | 2.31 | -8.33% |
| S2 | 2.20 | -12.70% |
| S3 | 2.13 | -15.67% |
FAQ
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