NextEra Energy Partners LP stock price ended on $25.99 on Friday after losing 0.42145593869733%
(Updated on Dec 08, 2023)
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The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $20.18, a level that may pose a second chance to hit a runner. According to fan-theory $35.07 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
NEP Signals & Forecast
The NextEra Energy Partners LP 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 $25.26 and $25.04. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, November 02, 2023, and so far it has fallen -10.60%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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Support, Risk & Stop-loss for NextEra Energy Partners LP stock
NextEra Energy Partners LP finds support from accumulated volume at $24.74 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 $0.86 between high and low, or 3.37%. For the last week, the stock has had daily average volatility of 4.80%.
Our recommended stop-loss: $24.77 (-4.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (NEP) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect NextEra Energy Partners LP to open at $25.94, and during the day (based on 14 day Average True Range), to move between $24.70 and $27.28, which gives a possible trading interval of +/-$1.29 (+/-4.97%) up or down from last closing price. If NextEra Energy Partners LP takes out the full calculated possible swing range there will be an estimated 9.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.74 (4.81%) than the resistance at $27.93 (7.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NextEra Energy Partners LP stock A Buy?
NextEra Energy Partners LP 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.
Current score: 0.557 Open Broker AccountHold/Accumulate Unchanged
Predicted Opening Price for NextEra Energy Partners LP of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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