Nextplat Corp Stock Forecast

Green day on Monday for Nextplat Corp
(Updated on Jun 17, 2024)

NXPL Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 1.85%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nextplat 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 $1.12 and $1.18. A break-up above any of these levels will issue buy signals. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Nextplat Corp stock

Nextplat Corp finds support from accumulated volume at $1.09 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 $0.0399 between high and low, or 3.69%. For the last week the stock has had daily average volatility of 5.09%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NXPL) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Nextplat Corp to open at $1.10, and during the day (based on 14 day Average True Range), to move between $1.03 and $1.17, which gives a possible trading interval of +/-$0.0719 (+/-6.54%) up or down from last closing price. If Nextplat Corp takes out the full calculated possible swing range there will be an estimated 13.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.09 (1.36%) than the resistance at $1.20 (9.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Nextplat Corp stock A Buy?

Nextplat Corp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.200 Sell Candidate Unchanged

Predicted Opening Price for Nextplat Corp of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.