Sunnova Energy International Inc Stock Forecast
Sunnova Energy International Inc stock price took a fall of -6.36% on Thursday
(Updated on Apr 25, 2024)
The Sunnova Energy International Inc stock price fell by -6.36% on the last day (Thursday, 25th Apr 2024) from $3.93 to $3.68. During the last trading day the stock fluctuated 7.82% from a day low at $3.58 to a day high of $3.86. The price has been going up and down for this period, and there has been a -17.49% loss for the last 2 weeks. Volume has increased on the last day by 3 million 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, 7 million shares were bought and sold for approximately $26.24 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.61, a level that may pose a second chance to hit a runner. According to fan-theory $6.86 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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NOVA Signals & Forecast
There are few to no technical positive signals at the moment. The Sunnova Energy International Inc 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 $3.84 and $4.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -39.97%. 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 Sunnova Energy International Inc 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.280 between high and low, or 7.82%. For the last week, the stock has had daily average volatility of 10.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NOVA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Sunnova Energy International Inc to open at $3.71, and during the day (based on 14 day Average True Range), to move between $3.14 and $4.22, which gives a possible trading interval of +/-$0.540 (+/-14.68%) up or down from last closing price. If Sunnova Energy International Inc takes out the full calculated possible swing range there will be an estimated 29.36% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.92, some $0.240 (6.52%) from the current price of $3.68, our system finds the risk reward not very attractive.
Earnings coming up
Sunnova Energy International Inc will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.790. We will update the financials statements for Sunnova Energy International Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.20% in the first trading day after earnings release.
Is Sunnova Energy International Inc stock A Buy?
Sunnova Energy International Inc holds several negative signals and is within a very 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: -6.987 Strong Sell Candidate Downgraded
Predicted Opening Price for Sunnova Energy International Inc of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$3.71 ( 0.725%) | $3.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NOVA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.99 | 8.33 % | |
R2 | 3.88 | 5.43 % | ||
R1 | 3.81 | 3.63 % | ||
Current price: | 3.68 | |||
Support | S1 | 3.60 | -2.18 % | |
S2 | 3.53 | -3.98 % | ||
S3 | 3.43 | -6.88 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.47 | 21.47 % | |
R2 | 4.20 | 14.13 % | ||
R1 | 3.92 | 6.52 % | ||
Current price | 3.68 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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