NanoGroup S.A. Stock Forecast

Weaker technical forecast for NanoGroup S.A. as stock downgraded to Sell Candidate.
(Updated on May 20, 2024)

NNG.WA Signals & Forecast

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. The NanoGroup S.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 1.02zł and 1.02zł. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -2.40%. Further fall is indicated until a new bottom pivot has been found. NanoGroup S.A. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, March 11, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for NanoGroup S.A. stock

NanoGroup S.A. finds support from accumulated volume at 0.99zł and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 0.0150zł between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.80%.

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

Trading Expectations (NNG.WA) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect NanoGroup S.A. to open at 1.02zł, and during the day (based on 14 day Average True Range), to move between 0.99zł and 1.04zł, which gives a possible trading interval of +/-0.0294zł (+/-2.89%) up or down from last closing price. If NanoGroup S.A. takes out the full calculated possible swing range there will be an estimated 5.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 1.02zł (0.49%) than the support at 0.99zł (2.66%), 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.

Is NanoGroup S.A. stock A Buy?

The NanoGroup S.A. stock holds several negative signals and despite the positive trend, we believe NanoGroup S.A. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.

Current score: -4.629 Sell Candidate Downgraded

Predicted Opening Price for NanoGroup S.A. of Tuesday, May 21, 2024

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