NEXON Co., Ltd. Stock Forecast
NEXON Co., Ltd. stock price up 0.553% on Friday
(Updated on May 10, 2024)
The NEXON Co., Ltd. stock price gained 0.553% on the last trading day (Friday, 10th May 2024), rising from $16.27 to $16.36. During the last trading day the stock fluctuated 3.06% from a day low at $15.97 to a day high of $16.46. The price has risen in 7 of the last 10 days and is up by 3.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 19 thousand shares were bought and sold for approximately $316.96 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $16.40 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.01% during the next 3 months and, with a 90% probability hold a price between $13.70 and $15.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NEXOY Signals & Forecast
The NEXON Co., Ltd. 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 $16.23 and $16.13. 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). NEXON Co., Ltd. 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. Higher liquidity also reduces the general risk. 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 Wednesday, April 24, 2024, and so far it has fallen -1.68%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for NEXON Co., Ltd. stock
NEXON Co., Ltd. finds support from accumulated volume at $16.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.488 (3.06%) between high and low. For the last week, the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NEXOY) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect NEXON Co., Ltd. to open at $16.26, and during the day (based on 14 day Average True Range), to move between $15.95 and $16.77, which gives a possible trading interval of +/-$0.409 (+/-2.50%) up or down from last closing price. If NEXON Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.54 (1.10%) than the support at $16.13 (1.41%), 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.
Earnings coming up
NEXON Co., Ltd. will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for NEXON Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.72% in the first trading day after earnings release.
Is NEXON Co., Ltd. stock A Buy?
NEXON Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.150 Sell Candidate Unchanged
Predicted Opening Price for NEXON Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $16.26 ( 0.595%) | $16.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEXOY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.75 | 2.39 % | |
| R2 | 16.56 | 1.25 % | ||
| R1 | 16.45 | 0.545 % | ||
| Current price: | 16.36 | |||
| Support | S1 | 16.08 | -1.73 % | |
| S2 | 15.96 | -2.44 % | ||
| S3 | 15.77 | -3.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.15 | 4.83 % | |
| R2 | 16.61 | 1.50 % | ||
| R1 | 16.54 | 1.10 % | ||
| Current price | 16.36 | |||
| Support | S1 | 16.13 | -1.41% | |
| S2 | 16.08 | -1.71% | ||
| S3 | 15.48 | -5.38% |
NEXOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Mar 01, 2024 | $0.0274 | 0.160% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Apr 11, 2024 | $0.0330 | 0.210% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Oct 10, 2023 | $0.0211 | 0.118% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Apr 10, 2023 | $0.0239 | 0.102% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Oct 11, 2022 | $0.0217 | 0.120% |
FAQ
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