Nexans S.A. Stock Forecast
Nexans S.A. stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Nexans S.A. stock price fell by -1.67% on the last day (Friday, 3rd May 2024) from 101.60€ to 99.90€. During the last trading day the stock fluctuated 3.61% from a day low at 98.25€ to a day high of 101.80€. The price has fallen in 6 of the last 10 days but is still up by 1.47% over the past 2 weeks. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 106 thousand shares were bought and sold for approximately 10.56€ million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.42% during the next 3 months and, with a 90% probability hold a price between 107.62€ and 115.46€ at the end of this 3-month period.
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NEX.PA Signals & Forecast
The Nexans S.A. 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 99.49€ and 97.38€. 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, May 02, 2024, and so far it has fallen -1.67%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 3.55€ between high and low, or 3.61%. For the last week the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: 96.43€ (-3.48%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (NEX.PA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Nexans S.A. to open at 99.98€, and during the day (based on 14 day Average True Range), to move between 97.38€ and 102.42€, which gives a possible trading interval of +/-2.52€ (+/-2.52%) up or down from last closing price. If Nexans S.A. takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 100.40€ (0.50%) than the support at 95.00€ (4.90%), 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?
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 Nexans S.A. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.519 Buy Candidate Downgraded
Predicted Opening Price for Nexans S.A. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 99.98€ ( 0.0834%) | 99.90€ |
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 | 103.53 | 3.64 % | |
| R2 | 102.18 | 2.28 % | ||
| R1 | 101.34 | 1.44 % | ||
| Current price: | 99.90 | |||
| Support | S1 | 98.63 | -1.27 % | |
| S2 | 97.79 | -2.11 % | ||
| S3 | 96.43 | -3.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.60 | 1.70 % | |
| R2 | 100.90 | 1.00 % | ||
| R1 | 100.40 | 0.501 % | ||
| Current price | 99.90 | |||
| Support | S1 | 95.00 | -4.90% | |
| S2 | 94.35 | -5.56% | ||
| S3 | 90.25 | -9.66% |
NEX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | May 23, 2024 | 2.30€ | 2.31% |
| 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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