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AI Analysis of NESR
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National Energy Services Reunited Corp stock price down 0.565% on Friday
(Updated on Apr 12, 2024)

Buy or Hold candidate since Feb 22, 2024 Gain 15.79% PDF

The National Energy Services Reunited Corp stock price fell by -0.565% on the last day (Friday, 12th Apr 2024) from $8.85 to $8.80. During the last trading day the stock fluctuated 5.29% from a day low at $8.50 to a day high of $8.95. The price has risen in 5 of the last 10 days and is up by 10% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -243 thousand shares and in total, 8 thousand shares were bought and sold for approximately $67.06 thousand.

The stock lies in the upper part of a wide and strong 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 $8.87 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.26% during the next 3 months and, with a 90% probability hold a price between $8.81 and $10.04 at the end of this 3-month period.

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NESR Signals & Forecast

The National Energy Services Reunited Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8.81. On a fall, the stock will find some support from the long-term average at approximately $8.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 11, 2024, and so far it has fallen -0.565%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for National Energy Services Reunited Corp stock

National Energy Services Reunited Corp finds support from accumulated volume at $8.45 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.450 between high and low, or 5.29%. For the last week the stock has had daily average volatility of 2.91%.

The National Energy Services Reunited Corp stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $8.49 (-3.55%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (NESR) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect National Energy Services Reunited Corp to open at $8.75, and during the day (based on 14 day Average True Range), to move between $8.47 and $9.13, which gives a possible trading interval of +/-$0.330 (+/-3.75%) up or down from last closing price. If National Energy Services Reunited Corp takes out the full calculated possible swing range there will be an estimated 7.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.85 (0.57%) than the support at $8.45 (3.98%), 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 National Energy Services Reunited Corp 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 National Energy Services Reunited Corp stock to perform well in the short-term.

Current score: 1.969 Buy Candidate Unchanged

Predicted Opening Price for National Energy Services Reunited Corp of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$8.75 ( 0.568%) $8.80

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for NESR

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 9.20 4.55 %
R2 9.03 2.59 %
R1 8.92 1.39 %
Current price: 8.80
Support S1 8.58 -2.52 %
S2 8.47 -3.73 %
S3 8.30 -5.68 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 8.85 0.568 %
Current price 8.80
Support S1 8.45 -3.98%
S2 8.00 -9.09%
S3 7.30 -17.05%

FAQ

What is the symbol for National Energy Services Reunited Corp Stock and on which exchange is it traded?
The symbol for National Energy Services Reunited Corp is NESR and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell National Energy Services Reunited Corp Stock?
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 National Energy Services Reunited Corp stock to perform well in the short-term.

How to buy National Energy Services Reunited Corp Stock?
National Energy Services Reunited Corp Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy National Energy Services Reunited Corp Stock.

What's the current price of National Energy Services Reunited Corp Stock?
As of the end of day on the 2024-04-12, the price of an National Energy Services Reunited Corp (NESR) share was $8.80.

What is the 52-week high and low for National Energy Services Reunited Corp Stock?
The 52-week high for National Energy Services Reunited Corp Stock is $8.95 and the 52-week low is $2.44.

What is the market capitalization of National Energy Services Reunited Corp Stock?
As of the 2024-04-12, the market capitalization of National Energy Services Reunited Corp is 835.968M.
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About National Energy Services Reunited Corp

National Energy Services Reunited National Energy Services Reunited Corp. provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through two segments, Production Services; and Drilling and Evaluation Services. The Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimul... NESR Profile

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