NextPlay Technologies, Inc. Stock Forecast

NextPlay Technologies, Inc. stock upgraded to Hold/Accumulate.
(Updated on May 01, 2024)

NXTP Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NextPlay Technologies, Inc. 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 $0.0038 and $0.448. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -76.00%. 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).

Support, Risk & Stop-loss for NextPlay Technologies, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0022. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.

Our recommended stop-loss: $0.0022 (-6.46%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (NXTP) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect NextPlay Technologies, Inc. to open at $0.0024, and during the day (based on 14 day Average True Range), to move between -$0.100 and $0.105, which gives a possible trading interval of +/-$0.103 (+/-4 287.12%) up or down from last closing price. If NextPlay Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 8 574.23% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0022, some $0.0002 (8.33%) from the current price of $0.0024, our system finds the risk reward attractive.

Is NextPlay Technologies, Inc. stock A Buy?

NextPlay Technologies, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 NextPlay Technologies, Inc. of Thursday, May 2, 2024

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