Next Technology Holding Inc. Stock Forecast
Big movements in Next Technology Holding Inc. stock price on Thursday moving 24.72% between high and low
(Updated on Jun 20, 2024)
The Next Technology Holding Inc. stock price gained 11.21% on the last trading day (Thursday, 20th Jun 2024), rising from $4.46 to $4.96. During the last trading day the stock fluctuated 24.72% from a day low at $4.41 to a day high of $5.50. The price has risen in 7 of the last 10 days and is up by 42.53% 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, 39 thousand more shares were traded than the day before. In total, 52 thousand shares were bought and sold for approximately $257.55 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $4.72, a level that may pose a second chance to hit a runner. According to fan-theory $7.08 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NXTT Signals & Forecast
Mostly positive signals in the chart today. The Next Technology Holding Inc. 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 $4.13 and $4.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 53.56%. 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). Next Technology Holding Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Next Technology Holding Inc. stock
Next Technology Holding Inc. finds support from accumulated volume at $4.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.09 between high and low, or 24.72%. For the last week, the stock has had daily average volatility of 16.18%.
The Next Technology Holding Inc. stock is extremely overbought on RSI14 (74). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $4.79 (-3.52%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 74 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (NXTT) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Next Technology Holding Inc. to open at $4.96, and during the day (based on 14 day Average True Range), to move between $4.50 and $5.42, which gives a possible trading interval of +/-$0.457 (+/-9.21%) up or down from last closing price. If Next Technology Holding Inc. takes out the full calculated possible swing range there will be an estimated 18.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.03 (1.41%) than the support at $4.84 (2.42%), 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 Technology Holding Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.620 Buy Candidate Upgraded
Predicted Opening Price for Next Technology Holding Inc. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $4.96 ( 0.0672%) | $4.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NXTT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.05 | 21.91% |
| R2 | 5.63 | 13.51% |
| R1 | 5.37 | 8.33% |
| Price | 4.96 | |
| S1 | 4.54 | -8.46% |
| S2 | 4.28 | -13.65% |
| S3 | 3.87 | -22.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.98 | 20.56% |
| R2 | 5.83 | 17.54% |
| R1 | 5.03 | 1.41% |
| Price | 4.96 | |
| S1 | 4.84 | -2.42% |
| S2 | 4.80 | -3.23% |
| S3 | 4.46 | -10.08% |
FAQ
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