New Fortress Energy LLC Class A Stock Forecast
Evaluation of New Fortress Energy LLC Class A stock downgraded after the last trading session.
(Updated on Jun 17, 2024)
The New Fortress Energy LLC Class A stock price fell by -3.40% on the last day (Monday, 17th Jun 2024) from $22.05 to $21.30. During the last trading day the stock fluctuated 8.75% from a day low at $20.79 to a day high of $22.61. The price has fallen in 8 of the last 10 days and is down by -14.9% for this period. Volume has increased on the last day by 93 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, 3 million shares were bought and sold for approximately $54.45 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($21.76) are considered to be a "second chance" to get out. According to the fan-theory $17.58 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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NFE Signals & Forecast
There are few to no technical positive signals at the moment. The New Fortress Energy LLC Class A 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 $22.29 and $25.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -26.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 New Fortress Energy LLC Class A stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.82 between high and low, or 8.75%. For the last week, the stock has had daily average volatility of 5.04%.
New Fortress Energy LLC Class A is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NFE) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect New Fortress Energy LLC Class A to open at $21.57, and during the day (based on 14 day Average True Range), to move between $20.34 and $22.26, which gives a possible trading interval of +/-$0.96 (+/-4.50%) up or down from last closing price. If New Fortress Energy LLC Class A takes out the full calculated possible swing range there will be an estimated 9.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $23.81, some $2.51 (11.78%) from the current price of $21.30, our system finds the risk reward not very attractive.
Is New Fortress Energy LLC Class A stock A Buy?
New Fortress Energy LLC Class A holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell to a Strong Sell candidate.
Current score: -6.920 Strong Sell Candidate Downgraded
Predicted Opening Price for New Fortress Energy LLC Class A of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $21.57 ( 1.25%) | $21.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NFE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.39 | 9.80% |
| R2 | 22.69 | 6.53% |
| R1 | 22.26 | 4.52% |
| Price | 21.30 | |
| S1 | 20.87 | -2.01% |
| S2 | 20.44 | -4.03% |
| S3 | 19.75 | -7.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.55 | 24.65% |
| R2 | 26.49 | 24.37% |
| R1 | 23.81 | 11.78% |
| Price | 21.30 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
NFE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 27, 2024 | $0.100 | 0.469% |
| 2 | Feb 26, 2024 | Mar 14, 2024 | Mar 27, 2024 | $0.100 | 0.338% |
| 3 | Nov 08, 2023 | Dec 12, 2023 | Dec 27, 2023 | $0.100 | 0.259% |
| 4 | Aug 07, 2023 | Sep 12, 2023 | Sep 27, 2023 | $0.100 | 0.322% |
| 5 | May 04, 2023 | Jun 14, 2023 | Jun 28, 2023 | $0.100 | 0.376% |
FAQ
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