Nexa Resources S.A. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Nexa Resources S.A. stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Nexa Resources S.A. stock price gained 0.549% on the last trading day (Friday, 3rd May 2024), rising from $7.29 to $7.33. During the last trading day the stock fluctuated 3.79% from a day low at $7.13 to a day high of $7.40. The price has been going up and down for this period, and there has been a 0.41% gain for the last 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 23 thousand shares were bought and sold for approximately $169.24 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak 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 8.39% during the next 3 months and, with a 90% probability hold a price between $7.77 and $8.44 at the end of this 3-month period.
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NEXA Signals & Forecast
The Nexa Resources S.A. 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 $7.33. On a fall, the stock will find some support from the long-term average at approximately $7.30. 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 Monday, March 25, 2024, and so far it has fallen -2.40%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Nexa Resources S.A. stock
Nexa Resources S.A. finds support from accumulated volume at $6.99 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.270 between high and low, or 3.79%. For the last week the stock has had daily average volatility of 3.30%
Our recommended stop-loss: $7.06 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (NEXA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Nexa Resources S.A. to open at $7.29, and during the day (based on 14 day Average True Range), to move between $7.11 and $7.55, which gives a possible trading interval of +/-$0.216 (+/-2.94%) up or down from last closing price. If Nexa Resources S.A. takes out the full calculated possible swing range there will be an estimated 5.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.39 (0.82%) than the support at $6.99 (4.64%), 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 Nexa Resources 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 Nexa Resources S.A. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 1.650 Buy Candidate Upgraded
Predicted Opening Price for Nexa Resources S.A. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $7.29 ( 0.591%) | $7.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEXA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.56 | 3.09 % | |
| R2 | 7.45 | 1.69 % | ||
| R1 | 7.39 | 0.82 % | ||
| Current price: | 7.33 | |||
| Support | S1 | 7.18 | -2.00 % | |
| S2 | 7.12 | -2.87 % | ||
| S3 | 7.02 | -4.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.51 | 2.46 % | |
| R2 | 7.48 | 2.05 % | ||
| R1 | 7.39 | 0.82 % | ||
| Current price | 7.33 | |||
| Support | S1 | 6.99 | -4.64% | |
| S2 | 6.92 | -5.59% | ||
| S3 | 6.74 | -8.05% |
NEXA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.189 | 3.16% |
| 2 | Feb 16, 2022 | Mar 10, 2022 | Mar 25, 2022 | $0.378 | 4.10% |
| 3 | Feb 12, 2021 | Mar 11, 2021 | Mar 26, 2021 | $0.264 | 2.60% |
| 4 | Feb 13, 2020 | Mar 13, 2020 | Mar 30, 2020 | $0.378 | 12.27% |
| 5 | Feb 15, 2019 | Mar 13, 2019 | Mar 28, 2019 | $0.525 | 4.26% |
FAQ
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