Nexstar Broadcasting Group Stock Forecast
Green day on Friday for Nexstar Broadcasting Group
(Updated on Jun 28, 2024)
The Nexstar Broadcasting Group stock price gained 3.89% on the last trading day (Friday, 28th Jun 2024), rising from $159.80 to $166.01. During the last trading day the stock fluctuated 3.57% from a day low at $160.91 to a day high of $166.65. The price has risen in 7 of the last 10 days and is up by 8.5% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 348 thousand more shares were traded than the day before. In total, 533 thousand shares were bought and sold for approximately $88.45 million.
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 -5.84% during the next 3 months and, with a 90% probability hold a price between $140.29 and $164.11 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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NXST Signals & Forecast
The Nexstar Broadcasting Group 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 $158.56 and $161.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 10.26%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Nexstar Broadcasting Group stock
Nexstar Broadcasting Group finds support from accumulated volume at $158.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $5.75 (3.57%) between high and low. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: $159.93 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (NXST) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Nexstar Broadcasting Group to open at $164.52, and during the day (based on 14 day Average True Range), to move between $161.69 and $170.33, which gives a possible trading interval of +/-$4.32 (+/-2.60%) up or down from last closing price. If Nexstar Broadcasting Group takes out the full calculated possible swing range there will be an estimated 5.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $158.21 (4.70%) than the resistance at $173.96 (4.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nexstar Broadcasting Group stock A Buy?
Nexstar Broadcasting Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Nexstar Broadcasting Group of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $164.52 ( 0.90%) | $166.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NXST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 170.27 | 2.56% |
| R2 | 168.07 | 1.24% |
| R1 | 166.72 | 0.425% |
| Price | 166.01 | |
| S1 | 162.33 | -2.22% |
| S2 | 160.97 | -3.04% |
| S3 | 158.78 | -4.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 179.69 | 8.24% |
| R2 | 177.94 | 7.19% |
| R1 | 173.96 | 4.79% |
| Price | 166.01 | |
| S1 | 158.21 | -4.70% |
| S2 | 156.97 | -5.45% |
| S3 | 151.91 | -8.49% |
NXST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | May 09, 2024 | May 24, 2024 | $1.69 | 1.07% |
| 2 | Jan 26, 2024 | Feb 08, 2024 | Feb 23, 2024 | $1.69 | 1.03% |
| 3 | Oct 27, 2023 | Nov 09, 2023 | Nov 27, 2023 | $1.35 | 0.92% |
| 4 | Jul 26, 2023 | Aug 09, 2023 | Aug 24, 2023 | $1.35 | 0.85% |
| 5 | Apr 27, 2023 | May 11, 2023 | May 26, 2023 | $1.35 | 0.89% |
FAQ
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