NEXE Innovations Inc. Stock Forecast
Evaluation of NEXE Innovations Inc. stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
The NEXE Innovations Inc. stock price gained 1.67% on the last trading day (Thursday, 27th Jun 2024), rising from $0.204 to $0.208. During the last trading day the stock fluctuated 0% from a day low at $0.208 to a day high of $0.208. The price has been going up and down for this period, and there has been a -11.06% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 80 more shares were traded than the day before. In total, 100 shares were bought and sold for approximately $20.75 .
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.205 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 25.75% during the next 3 months and, with a 90% probability hold a price between $0.258 and $0.381 at the end of this 3-month period.
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NEXNF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 1.67%. Further rise is indicated until a new top pivot has been found. NEXE Innovations Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NEXE Innovations Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.213 and $0.235. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for NEXE Innovations Inc. stock
NEXE Innovations Inc. finds support from accumulated volume at $0.202 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
NEXE Innovations Inc. is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NEXNF) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect NEXE Innovations Inc. to open at $0.208, and during the day (based on 14 day Average True Range), to move between $0.202 and $0.213, which gives a possible trading interval of +/-$0.0055 (+/-2.63%) up or down from last closing price. If NEXE Innovations Inc. takes out the full calculated possible swing range there will be an estimated 5.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.202 (2.70%) than the resistance at $0.233 (12.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NEXE Innovations Inc. stock A Buy?
The NEXE Innovations Inc. stock holds several negative signals and despite the positive trend, we believe NEXE Innovations Inc. 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 Hold/Accumulate to a Sell candidate.
Current score: -1.387 Sell Candidate Downgraded
Predicted Opening Price for NEXE Innovations Inc. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $0.208 ( 0%) | $0.208 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEXNF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.208 | - |
| R2 | 0.208 | - |
| R1 | 0.208 | - |
| Price | 0.208 | |
| S1 | 0.208 | - |
| S2 | 0.208 | - |
| S3 | 0.208 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.249 | 19.88% |
| R2 | 0.244 | 17.59% |
| R1 | 0.233 | 12.43% |
| Price | 0.208 | |
| S1 | 0.202 | -2.70% |
| S2 | 0.201 | -3.20% |
| S3 | 0.184 | -11.52% |
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