NN Stock Forecast
On Friday, NN stock price gained an impressive 5.06%
(Updated on May 03, 2024)
The NN stock price gained 5.06% on the last trading day (Friday, 3rd May 2024), rising from $3.36 to $3.53. During the last trading day the stock fluctuated 7.32% from a day low at $3.35 to a day high of $3.59. The price has fallen in 7 of the last 10 days and is down by -8.31% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 157 thousand more shares were traded than the day before. In total, 303 thousand shares were bought and sold for approximately $1.07 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.34 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -23.45% during the next 3 months and, with a 90% probability hold a price between $2.56 and $3.38 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NNBR Signals & Forecast
There are mixed signals in the stock today. The NN 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 $3.60 and $4.22. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 5.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for NN stock
NN finds support from accumulated volume at $3.36 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 $0.245 between high and low, or 7.32%. For the last week, the stock has had daily average volatility of 7.51%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect NN to open at $3.49, and during the day (based on 14 day Average True Range), to move between $3.28 and $3.78, which gives a possible trading interval of +/-$0.248 (+/-7.03%) up or down from last closing price. If NN takes out the full calculated possible swing range there will be an estimated 14.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.56 (0.85%) than the support at $3.36 (4.82%), 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
NN will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0900. We will update the financials statements for NN, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.71% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.598 Sell Candidate Upgraded
Predicted Opening Price for NN of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$3.49 ( 1.18%) | $3.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NNBR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.73 | 5.76 % | |
R2 | 3.64 | 3.11 % | ||
R1 | 3.58 | 1.47 % | ||
Current price: | 3.53 | |||
Support | S1 | 3.39 | -3.83 % | |
S2 | 3.34 | -5.47 % | ||
S3 | 3.24 | -8.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.16 | 17.85 % | |
R2 | 3.84 | 8.78 % | ||
R1 | 3.56 | 0.85 % | ||
Current price | 3.53 | |||
Support | S1 | 3.36 | -4.82% | |
S2 | 0 | . | ||
S3 | 0 | . |
NNBR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 30, 2019 | Sep 06, 2019 | Sep 23, 2019 | $0.0700 | 0.99% |
2 | Jun 11, 2019 | Jun 20, 2019 | Jun 28, 2019 | $0.0700 | 0.717% |
3 | Feb 04, 2019 | Feb 14, 2019 | Mar 01, 2019 | $0.0700 | 0.711% |
4 | Nov 16, 2018 | Nov 30, 2018 | Dec 17, 2018 | $0.0700 | 1.18% |
5 | Aug 09, 2018 | Aug 30, 2018 | Sep 17, 2018 | $0.0700 | 0.435% |
FAQ
Click here for our free guide on how to buy NN Stock.