Nexans S.A. Stock Forecast
Nexans S.A. stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Nexans S.A. stock price fell by -1.58% on the last day (Thursday, 25th Apr 2024) from 98.00€ to 96.45€. During the last trading day the stock fluctuated 3.39% from a day low at 94.50€ to a day high of 97.70€. The price has fallen in 6 of the last 10 days but is still up by 0.31% 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 -4 thousand shares and in total, 96 thousand shares were bought and sold for approximately 9.23€ million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 95.47€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.39% during the next 3 months and, with a 90% probability hold a price between 110.17€ and 120.86€ at the end of this 3-month period.
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NEX.PA Signals & Forecast
There are few to no technical positive signals at the moment. The Nexans S.A. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 97.29€ and 96.55€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -3.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Nexans S.A. stock
Nexans S.A. finds support from accumulated volume at 95.00€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 3.20€ between high and low, or 3.39%. For the last week the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NEX.PA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Nexans S.A. to open at 96.22€, and during the day (based on 14 day Average True Range), to move between 93.99€ and 98.91€, which gives a possible trading interval of +/-2.46€ (+/-2.55%) up or down from last closing price. If Nexans S.A. takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 96.70€ (0.26%) than the support at 95.00€ (1.50%), 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 Nexans S.A. stock A Buy?
The Nexans S.A. stock holds several negative signals and despite the positive trend, we believe Nexans S.A. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.112 Sell Candidate Downgraded
Predicted Opening Price for Nexans S.A. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| 96.22€ ( 0.242%) | 96.45€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEX.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 99.42 | 3.08 % | |
| R2 | 98.19 | 1.81 % | ||
| R1 | 97.44 | 1.03 % | ||
| Current price: | 96.45 | |||
| Support | S1 | 94.99 | -1.51 % | |
| S2 | 94.24 | -2.29 % | ||
| S3 | 93.02 | -3.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.70 | 1.30 % | |
| R2 | 97.55 | 1.14 % | ||
| R1 | 96.70 | 0.259 % | ||
| Current price | 96.45 | |||
| Support | S1 | 95.00 | -1.50% | |
| S2 | 94.35 | -2.18% | ||
| S3 | 90.25 | -6.43% |
NEX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | May 23, 2024 | 2.30€ | 2.39% |
| 2 | May 15, 2023 | May 15, 2023 | May 15, 2023 | 2.10€ | 2.71% |
| 3 | May 16, 2022 | May 16, 2022 | May 16, 2022 | 1.20€ | 1.54% |
| 4 | May 19, 2021 | May 19, 2021 | May 19, 2021 | 0.700€ | 0.99% |
| 5 | May 18, 2020 | May 18, 2020 | May 18, 2020 | 0.400€ | 1.03% |
FAQ
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