Next Hydrogen Solutions Inc. Stock Forecast
On Friday, Next Hydrogen Solutions Inc. stock price gained an impressive 16.36%
(Updated on Jun 28, 2024)
The Next Hydrogen Solutions Inc. stock price gained 16.36% on the last trading day (Friday, 28th Jun 2024), rising from $0.550 to $0.640. During the last trading day the stock fluctuated 6.67% from a day low at $0.600 to a day high of $0.640. The price has been going up and down for this period, and there has been a 10.34% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $4.50 thousand.
Given the current short-term trend, the stock is expected to fall -17.29% during the next 3 months and, with a 90% probability hold a price between $0.453 and $0.529 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NXH.V Signals & Forecast
Mostly positive signals in the chart today. The Next Hydrogen Solutions Inc. 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 $0.594 and $0.623. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 16.36%. 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). Next Hydrogen Solutions 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.
Support, Risk & Stop-loss for Next Hydrogen Solutions Inc. stock
Next Hydrogen Solutions Inc. finds support from accumulated volume at $0.620 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 $0.0400 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 1.33%.
Our recommended stop-loss: $0.611 (-4.51%) (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 (NXH.V) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Next Hydrogen Solutions Inc. to open at $0.627, and during the day (based on 14 day Average True Range), to move between $0.612 and $0.668, which gives a possible trading interval of +/-$0.0275 (+/-4.30%) up or down from last closing price. If Next Hydrogen Solutions Inc. takes out the full calculated possible swing range there will be an estimated 8.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.650 (1.56%) than the support at $0.620 (3.13%), 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 Next Hydrogen Solutions Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.154 Buy Candidate Upgraded
Predicted Opening Price for Next Hydrogen Solutions Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.627 ( 2.08%) | $0.640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NXH.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.667 | 4.17% |
| R2 | 0.651 | 1.78% |
| R1 | 0.642 | 0.304% |
| Price | 0.640 | |
| S1 | 0.611 | -4.47% |
| S2 | 0.602 | -5.95% |
| S3 | 0.587 | -8.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.750 | 17.19% |
| R2 | 0.700 | 9.37% |
| R1 | 0.650 | 1.56% |
| Price | 0.640 | |
| S1 | 0.620 | -3.13% |
| S2 | 0.600 | -6.25% |
| S3 | 0.580 | -9.38% |
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