NextDecade Corp. Stock Forecast
NextDecade Corp. stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The NextDecade Corp. stock price fell by -3.46% on the last day (Tuesday, 30th Apr 2024) from $6.65 to $6.42. During the last trading day the stock fluctuated 7.22% from a day low at $6.37 to a day high of $6.83. The price has been going up and down for this period, and there has been a 6.12% gain for the last 2 weeks. Volume has increased on the last day by 700 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, 2 million shares were bought and sold for approximately $15.25 million.
The stock lies in the middle of a wide and 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 29.61% during the next 3 months and, with a 90% probability hold a price between $7.29 and $8.65 at the end of this 3-month period.
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NEXT Signals & Forecast
The NextDecade Corp. 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 $6.36 and $5.80. 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 Monday, April 29, 2024, and so far it has fallen -3.46%. 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 NextDecade Corp. stock
NextDecade Corp. finds support from accumulated volume at $6.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.460 between high and low, or 7.22%. For the last week, the stock has had daily average volatility of 4.29%.
Our recommended stop-loss: $6.16 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (NEXT) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect NextDecade Corp. to open at $6.54, and during the day (based on 14 day Average True Range), to move between $6.15 and $6.69, which gives a possible trading interval of +/-$0.273 (+/-4.25%) up or down from last closing price. If NextDecade Corp. takes out the full calculated possible swing range there will be an estimated 8.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.22 (3.12%) than the resistance at $6.65 (3.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NextDecade Corp. 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 NextDecade Corp. 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: 1.066 Buy Candidate Downgraded
Predicted Opening Price for NextDecade Corp. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $6.54 ( 1.87%) | $6.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEXT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.00 | 9.03 % | |
| R2 | 6.82 | 6.30 % | ||
| R1 | 6.72 | 4.61 % | ||
| Current price: | 6.42 | |||
| Support | S1 | 6.36 | -0.87 % | |
| S2 | 6.26 | -2.56 % | ||
| S3 | 6.08 | -5.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6.65 | 3.58 % | ||
| Current price | 6.42 | |||
| Support | S1 | 6.22 | -3.12% | |
| S2 | 5.53 | -13.86% | ||
| S3 | 4.85 | -24.45% |
FAQ
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