NaaS Technology Inc. Stock Forecast
Strong day for NaaS Technology Inc. stock price on Friday rising 5.72% to $0.96
(Updated on Apr 26, 2024)
The NaaS Technology Inc. stock price gained 5.72% on the last trading day (Friday, 26th Apr 2024), rising from $0.91 to $0.96. During the last trading day the stock fluctuated 7.77% from a day low at $0.92 to a day high of $0.99. The price has been going up and down for this period, and there has been a -8.57% loss for the last 2 weeks. Volume fell on the last day by -996 thousand shares and in total, 920 thousand shares were bought and sold for approximately $883.53 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and 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 -43.08% during the next 3 months and, with a 90% probability hold a price between $0.474 and $0.653 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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NAAS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 11.60%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NaaS Technology Inc. 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 $0.96 and $1.12. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for NaaS Technology Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.91 and $0.86. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.86 may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0712 between high and low, or 7.77%. For the last week the stock has had daily average volatility of 11.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NAAS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect NaaS Technology Inc. to open at $0.95, and during the day (based on 14 day Average True Range), to move between $0.87 and $1.05, which gives a possible trading interval of +/-$0.0928 (+/-9.67%) up or down from last closing price. If NaaS Technology Inc. takes out the full calculated possible swing range there will be an estimated 19.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.91 (5.41%) than the resistance at $1.09 (13.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NaaS Technology Inc. stock A Buy?
NaaS Technology Inc. holds several negative signals and is within a very wide and 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: -1.959 Sell Candidate Unchanged
Predicted Opening Price for NaaS Technology Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.95 ( 0.597%) | $0.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAAS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.03 | 6.82 % | |
| R2 | 1.00 | 3.99 % | ||
| R1 | 0.98 | 2.24 % | ||
| Current price: | 0.96 | |||
| Support | S1 | 0.93 | -3.43 % | |
| S2 | 0.91 | -5.18 % | ||
| S3 | 0.88 | -8.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.13 | 17.71 % | |
| R2 | 1.10 | 14.58 % | ||
| R1 | 1.09 | 13.54 % | ||
| Current price | 0.96 | |||
| Support | S1 | 0.91 | -5.41% | |
| S2 | 0.86 | -10.40% | ||
| S3 | 0 | . |
FAQ
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