Nuix Limited Stock Forecast
Nuix Limited stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Nuix Limited stock price gained 3.92% on the last trading day (Friday, 3rd May 2024), rising from $2.04 to $2.12. During the last trading day the stock fluctuated 8.08% from a day low at $1.98 to a day high of $2.14. The price has risen in 6 of the last 10 days and is up by 8.72% over the past 2 weeks. Volume fell on the last day by -31 thousand shares and in total, 497 thousand shares were bought and sold for approximately $1.05 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.22% during the next 3 months and, with a 90% probability hold a price between $2.07 and $2.64 at the end of this 3-month period.
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NXL.AX Signals & Forecast
The Nuix Limited 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 $2.07 and $2.07. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -4.93%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Nuix Limited stock
Nuix Limited finds support from accumulated volume at $2.10 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.160 between high and low, or 8.08%. For the last week the stock has had daily average volatility of 5.18%.
Our recommended stop-loss: $2.04 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (NXL.AX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Nuix Limited to open at $2.08, and during the day (based on 14 day Average True Range), to move between $2.02 and $2.22, which gives a possible trading interval of +/-$0.0972 (+/-4.58%) up or down from last closing price. If Nuix Limited takes out the full calculated possible swing range there will be an estimated 9.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.14 (0.94%) than the support at $2.10 (0.94%), 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 Nuix Limited 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 Nuix Limited 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: 1.719 Buy Candidate Upgraded
Predicted Opening Price for Nuix Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.08 ( 1.89%) | $2.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NXL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.24 | 5.66 % | |
| R2 | 2.18 | 2.78 % | ||
| R1 | 2.14 | 1.00 % | ||
| Current price: | 2.12 | |||
| Support | S1 | 2.02 | -4.77 % | |
| S2 | 1.98 | -6.55 % | ||
| S3 | 1.92 | -9.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.17 | 2.36 % | |
| R2 | 2.15 | 1.42 % | ||
| R1 | 2.14 | 0.94 % | ||
| Current price | 2.12 | |||
| Support | S1 | 2.10 | -0.94% | |
| S2 | 2.01 | -5.19% | ||
| S3 | 1.95 | -8.02% |
FAQ
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