nVent Electric plc Stock Forecast
Stronger technical forecast for nVent Electric plc stock price after Tuesday trading.
(Updated on Jun 18, 2024)
The nVent Electric plc stock price gained 1.71% on the last trading day (Tuesday, 18th Jun 2024), rising from $78.42 to $79.76. During the last trading day the stock fluctuated 3.47% from a day low at $77.41 to a day high of $80.10. The price has risen in 7 of the last 10 days and is up by 4.08% over the past 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 1 million shares were bought and sold for approximately $97.33 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $78.00 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.89% during the next 3 months and, with a 90% probability hold a price between $86.49 and $97.15 at the end of this 3-month period.
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NVT Signals & Forecast
The nVent Electric plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $79.49 and $79.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 4.08%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 nVent Electric plc stock
nVent Electric plc finds support from accumulated volume at $76.63 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 $2.69 between high and low, or 3.47%. For the last week, the stock has had daily average volatility of 3.57%.
Our recommended stop-loss: $75.51 (-5.33%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (NVT) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect nVent Electric plc to open at $79.09, and during the day (based on 14 day Average True Range), to move between $76.88 and $82.64, which gives a possible trading interval of +/-$2.88 (+/-3.61%) up or down from last closing price. If nVent Electric plc takes out the full calculated possible swing range there will be an estimated 7.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $79.93 (0.21%) than the support at $76.63 (3.92%), 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 nVent Electric plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for nVent Electric plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.784 Buy Candidate Upgraded
Predicted Opening Price for nVent Electric plc of Thursday, June 20, 2024
Fair opening price June 20, 2024 | Current price |
---|---|
$79.09 ( 0.84%) | $79.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVT
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 81.78 | 2.53% |
R2 | 80.75 | 1.24% |
R1 | 80.12 | 0.448% |
Price | 79.76 | |
S1 | 78.06 | -2.13% |
S2 | 77.43 | -2.92% |
S3 | 76.40 | -4.21% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 82.07 | 2.90% |
R2 | 81.38 | 2.03% |
R1 | 79.93 | 0.213% |
Price | 79.76 | |
S1 | 76.63 | -3.92% |
S2 | 75.89 | -4.85% |
S3 | 71.90 | -9.85% |
NVT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 17, 2024 | Jul 19, 2024 | Aug 02, 2024 | $0.190 | 0.238% |
2 | Feb 19, 2024 | Apr 25, 2024 | May 10, 2024 | $0.190 | 0.232% |
3 | Jan 18, 2024 | Jan 18, 2024 | Feb 02, 2024 | $0.190 | 0.300% |
4 | Sep 26, 2023 | Oct 19, 2023 | Nov 03, 2023 | $0.175 | 0.351% |
5 | May 12, 2023 | Jul 20, 2023 | Aug 04, 2023 | $0.175 | 0.322% |
FAQ
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