NAXS AB (publ) Stock Forecast
Green day on Friday for NAXS AB (publ)
(Updated on May 03, 2024)
The NAXS AB (publ) stock price gained 0.93% on the last trading day (Friday, 3rd May 2024), rising from kr64.60 to kr65.20. During the last trading day the stock fluctuated 1.88% from a day low at kr64.00 to a day high of kr65.20. The price has fallen in 6 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately kr122.38 thousand.
The stock lies in the middle of a 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 -4.86% during the next 3 months and, with a 90% probability hold a price between kr59.25 and kr67.37 at the end of this 3-month period.
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NAXS.ST Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.52%. Further rise is indicated until a new top pivot has been found. NAXS AB (publ) 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NAXS AB (publ) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr66.38. On a fall, the stock will find some support from the short-term average at kr64.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Thursday, April 04, 2024 and based on theory for this formation the price should fall by -3.68% to kr62.80 within 32 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for NAXS AB (publ) stock
NAXS AB (publ) finds support from accumulated volume at kr65.00 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 kr1.20 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NAXS.ST) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect NAXS AB (publ) to open at kr64.80, and during the day (based on 14 day Average True Range), to move between kr63.66 and kr66.74, which gives a possible trading interval of +/-kr1.54 (+/-2.36%) up or down from last closing price. If NAXS AB (publ) takes out the full calculated possible swing range there will be an estimated 4.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr65.00 (0.31%) than the resistance at kr66.40 (1.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NAXS AB (publ) stock A Buy?
NAXS AB (publ) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.424 Sell Candidate Unchanged
Predicted Opening Price for NAXS AB (publ) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| kr64.80 ( 0.613%) | kr65.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAXS.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.00 | 1.23 % | |
| R2 | 65.54 | 0.524 % | ||
| R1 | 65.26 | 0.0896 % | ||
| Current price: | 65.20 | |||
| Support | S1 | 64.34 | -1.32 % | |
| S2 | 64.06 | -1.75 % | ||
| S3 | 63.60 | -2.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.40 | 3.37 % | |
| R2 | 66.60 | 2.15 % | ||
| R1 | 66.40 | 1.84 % | ||
| Current price | 65.20 | |||
| Support | S1 | 65.00 | -0.307% | |
| S2 | 64.20 | -1.53% | ||
| S3 | 64.00 | -1.84% |
NAXS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 11, 2024 | kr4.25 | 6.42% |
| 2 | Mar 31, 2023 | Mar 31, 2023 | Apr 06, 2023 | kr3.75 | 5.39% |
| 3 | Mar 31, 2022 | Mar 31, 2022 | Mar 31, 2022 | kr3.50 | 5.38% |
| 4 | Mar 12, 2021 | Mar 12, 2021 | Mar 12, 2021 | kr3.00 | 5.43% |
| 5 | Mar 13, 2020 | Mar 13, 2020 | Mar 13, 2020 | kr3.00 | 6.65% |
FAQ
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