NN Stock Forecast

Green day on Tuesday for NN stock after gaining 4.84%
(Updated on Apr 23, 2024)

NNBR Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.12%. Further rise is indicated until a new top pivot has been found. NN 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. The NN stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.45. On a fall, the stock will find some support from the short-term average at $3.87. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for NN stock

NN finds support from accumulated volume at $3.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.260 between high and low, or 6.84%. For the last week, the stock has had daily average volatility of 4.95%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NNBR) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect NN to open at $3.96, and during the day (based on 14 day Average True Range), to move between $3.76 and $4.25, which gives a possible trading interval of +/-$0.244 (+/-6.10%) up or down from last closing price. If NN takes out the full calculated possible swing range there will be an estimated 12.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.89 (2.87%) than the resistance at $4.16 (3.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NN stock A Buy?

NN 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: -2.256 Sell Candidate Unchanged

Predicted Opening Price for NN of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.