Next plc. Stock Forecast

Next plc. stock price ended at £9,120.00 on Friday, after gaining 0.176%.
(Updated on Apr 26, 2024)

NXT.L Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -1.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Next plc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £9,041.14 and £8,862.17. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Next plc. stock

On the downside, the stock finds support just below today's level from accumulated volume at £8,498.00 and £8,366.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Next plc. finds support just below today's level at £8,498.00. If this is broken, then the next support from accumulated volume will be at £8,366.00 and £8,362.00.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £196.00 between high and low, or 2.18%. For the last week the stock has had daily average volatility of 1.79%.

Our recommended stop-loss: £8,819.39 (-3.30%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (NXT.L) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Next plc. to open at £9,086.67, and during the day (based on 14 day Average True Range), to move between £8,950.39 and £9,289.61, which gives a possible trading interval of +/-£169.61 (+/-1.86%) up or down from last closing price. If Next plc. takes out the full calculated possible swing range there will be an estimated 3.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £9,190.00 (0.77%) than the support at £8,498.00 (6.82%), 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 plc. 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 Next plc. stock to perform well in the short-term.

Current score: 2.767 Buy Candidate Unchanged

Predicted Opening Price for Next plc. of Monday, April 29, 2024

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