NextNav Inc. Stock Forecast
High volatility in NextNav Inc. stock price on Friday which ended trading at $9.42
(Updated on Apr 26, 2024)
The NextNav Inc. stock price gained 13.97% on the last trading day (Friday, 26th Apr 2024), rising from $8.27 to $9.42. During the last trading day the stock fluctuated 14.60% from a day low at $8.29 to a day high of $9.50. The price has risen in 7 of the last 10 days and is up by 27.13% 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, 397 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $13.19 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $8.24, a level that may pose a second chance to hit a runner. According to fan-theory $9.80 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NN Signals & Forecast
The NextNav Inc. 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 $8.53 and $6.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 123.75%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for NextNav Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.02 and $7.79. 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, NextNav Inc. finds support just below today's level at $8.02. If this is broken, then the next support from accumulated volume will be at $7.79 and $7.60.
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 $1.21 between high and low, or 14.60%. For the last week, the stock has had daily average volatility of 8.33%.
Our recommended stop-loss: $9.08 (-3.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (NN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect NextNav Inc. to open at $9.07, and during the day (based on 14 day Average True Range), to move between $8.81 and $10.03, which gives a possible trading interval of +/-$0.607 (+/-6.44%) up or down from last closing price. If NextNav Inc. takes out the full calculated possible swing range there will be an estimated 12.89% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.02, some $1.40 (14.86%) from the current price of $9.42, our system finds the risk reward attractive.
Is NextNav Inc. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for NextNav Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.750 Strong Buy Candidate Upgraded
Predicted Opening Price for NextNav Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $9.07 ( 3.72%) | $9.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.28 | 9.13 % | |
| R2 | 9.82 | 4.22 % | ||
| R1 | 9.53 | 1.19 % | ||
| Current price: | 9.42 | |||
| Support | S1 | 8.61 | -8.62 % | |
| S2 | 8.32 | -11.65 % | ||
| S3 | 7.86 | -16.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.42 | |||
| Support | S1 | 8.02 | -14.86% | |
| S2 | 7.79 | -17.30% | ||
| S3 | 7.60 | -19.32% |
FAQ
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