Nuvve Holding Corp. Stock Forecast
Nuvve Holding Corp. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Nuvve Holding Corp. stock price fell by -2.44% on the last day (Friday, 17th May 2024) from $0.690 to $0.673. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 7.31% from a day low at $0.670 to a day high of $0.719. The price has been going up and down for this period, and there has been a -5.21% loss for the last 2 weeks. Volume has increased on the last day by 17 thousand 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, 66 thousand shares were bought and sold for approximately $44.18 thousand.
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 $0.610 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -16.26% during the next 3 months and, with a 90% probability hold a price between $0.511 and $0.83 at the end of this 3-month period.
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NVVE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.54%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nuvve Holding Corp. 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 $0.695 and $0.702. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Nuvve Holding Corp. 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.
Support, Risk & Stop-loss for Nuvve Holding Corp. stock
Nuvve Holding Corp. finds support from accumulated volume at $0.673 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 $0.0490 between high and low, or 7.31%. For the last week, the stock has had daily average volatility of 7.01%.
Our recommended stop-loss: $0.642 (-4.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (NVVE) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nuvve Holding Corp. to open at $0.687, and during the day (based on 14 day Average True Range), to move between $0.613 and $0.733, which gives a possible trading interval of +/-$0.0602 (+/-8.94%) up or down from last closing price. If Nuvve Holding Corp. takes out the full calculated possible swing range there will be an estimated 17.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.673 (0.04%) than the resistance at $0.777 (15.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nuvve Holding Corp. stock A Buy?
Nuvve Holding Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.654 Hold/Accumulate Upgraded
Predicted Opening Price for Nuvve Holding Corp. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.687 ( 2.13%) | $0.673 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVVE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.736 | 9.41 % | |
| R2 | 0.718 | 6.63 % | ||
| R1 | 0.706 | 4.91 % | ||
| Current price: | 0.673 | |||
| Support | S1 | 0.669 | -0.652 % | |
| S2 | 0.657 | -2.37 % | ||
| S3 | 0.638 | -5.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 19.35 % | |
| R2 | 0.786 | 16.73 % | ||
| R1 | 0.777 | 15.45 % | ||
| Current price | 0.673 | |||
| Support | S1 | 0.673 | -0.0446% | |
| S2 | 0.672 | -0.149% | ||
| S3 | 0.650 | -3.42% |
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