Nexgel, Inc. Stock Forecast
Big movements in Nexgel, Inc. stock price on Friday moving 21.73% between high and low
(Updated on Jun 21, 2024)
The Nexgel, Inc. stock price gained 3.86% on the last trading day (Friday, 21st Jun 2024), rising from $2.07 to $2.15. During the last trading day the stock fluctuated 21.73% from a day low at $1.84 to a day high of $2.24. The price has fallen in 5 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 37 thousand shares were bought and sold for approximately $79.50 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.34% during the next 3 months and, with a 90% probability hold a price between $1.81 and $2.26 at the end of this 3-month period.
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NXGL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 4.37%. 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). Nexgel, Inc. 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nexgel, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.21 and $2.21. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Nexgel, Inc. stock
Nexgel, Inc. finds support from accumulated volume at $2.12 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 $0.400 between high and low, or 21.73%. For the last week, the stock has had daily average volatility of 7.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NXGL) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Nexgel, Inc. to open at $2.08, and during the day (based on 14 day Average True Range), to move between $2.01 and $2.29, which gives a possible trading interval of +/-$0.145 (+/-6.74%) up or down from last closing price. If Nexgel, Inc. takes out the full calculated possible swing range there will be an estimated 13.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.12 (1.40%) than the resistance at $2.20 (2.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nexgel, Inc. stock A Buy?
Nexgel, Inc. 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.
Current score: -1.494 Sell Candidate Unchanged
Predicted Opening Price for Nexgel, Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $2.08 ( 3.41%) | $2.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NXGL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.48 | 15.19% |
| R2 | 2.32 | 8.08% |
| R1 | 2.23 | 3.69% |
| Price | 2.15 | |
| S1 | 1.92 | -10.52% |
| S2 | 1.83 | -14.91% |
| S3 | 1.68 | -22.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.29 | 6.51% |
| R2 | 2.24 | 4.19% |
| R1 | 2.20 | 2.33% |
| Price | 2.15 | |
| S1 | 2.12 | -1.40% |
| S2 | 2.10 | -2.33% |
| S3 | 2.07 | -3.72% |
FAQ
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