NEXE Innovations Inc. Stock Forecast
Weaker technical forecast for NEXE Innovations Inc. as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
No changes to the price of NEXE Innovations Inc. stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 0% from a day low at $0.194 to a day high of $0.194. The price has been going up and down for this period, and there has been a -16.97% loss for the last 2 weeks.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.195. A reaction back to this level may hold a second chance to get out before further falls.
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NEXNF Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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 $0.204 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NEXE Innovations Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.184 and $0.180. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NEXE Innovations Inc. finds support just below today's level at $0.184. If this is broken, then the next support from accumulated volume will be at $0.180 and $0.170.
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 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 (5). 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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect NEXE Innovations Inc. to open at $0.194, and during the day (based on 14 day Average True Range), to move between $0.188 and $0.199, which gives a possible trading interval of +/-$0.0052 (+/-2.71%) up or down from last closing price. If NEXE Innovations Inc. takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.201 (3.69%) than the support at $0.184 (5.21%), 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 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: -3.541 Sell Candidate Downgraded
Predicted Opening Price for NEXE Innovations Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.194 ( 0%) | $0.194 |
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 | 0.194 | - |
R2 | 0.194 | - |
R1 | 0.194 | - |
Price | 0.194 | |
S1 | 0.194 | - |
S2 | 0.194 | - |
S3 | 0.194 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.233 | 20.44% |
R2 | 0.202 | 4.23% |
R1 | 0.201 | 3.69% |
Price | 0.194 | |
S1 | 0.184 | -5.21% |
S2 | 0.180 | -6.87% |
S3 | 0.170 | -12.24% |
FAQ
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