NXT Energy Solutions Inc. Stock Forecast
NXT Energy Solutions Inc. stock price took a fall of -10.34% on Friday
(Updated on May 10, 2024)
The NXT Energy Solutions Inc. stock price fell by -10.34% on the last day (Friday, 10th May 2024) from $0.145 to $0.130. During the last trading day the stock fluctuated 7.69% from a day low at $0.130 to a day high of $0.140. The price has been going up and down for this period, and there has been a -16.13% loss for the last 2 weeks. Volume has increased on the last day by 59 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 111 thousand shares were bought and sold for approximately $14.43 thousand.
Given the current short-term trend, the stock is expected to rise 3.31% during the next 3 months and, with a 90% probability hold a price between $0.134 and $0.237 at the end of this 3-month period.
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SFD.TO Signals & Forecast
There are few to no technical positive signals at the moment. The NXT Energy Solutions 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 $0.154 and $0.180. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -42.22%. 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). NXT Energy Solutions Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for NXT Energy Solutions Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0100 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 5.83%.
NXT Energy Solutions Inc. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SFD.TO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect NXT Energy Solutions Inc. to open at $0.133, and during the day (based on 14 day Average True Range), to move between $0.122 and $0.138, which gives a possible trading interval of +/-$0.0084 (+/-6.43%) up or down from last closing price. If NXT Energy Solutions Inc. takes out the full calculated possible swing range there will be an estimated 12.86% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.135, some $0.0050 (3.85%) from the current price of $0.130, our system finds the risk reward not very attractive.
Earnings coming up
NXT Energy Solutions Inc. will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for NXT Energy Solutions Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.52% in the first trading day after earnings release.
Is NXT Energy Solutions Inc. stock A Buy?
The NXT Energy Solutions Inc. stock holds several negative signals and despite the positive trend, we believe NXT Energy Solutions Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.063 Sell Candidate Unchanged
Predicted Opening Price for NXT Energy Solutions Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.133 ( 2.56%) | $0.130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFD.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.143 | 10.26 % | |
| R2 | 0.140 | 7.32 % | ||
| R1 | 0.137 | 5.50 % | ||
| Current price: | 0.130 | |||
| Support | S1 | 0.130 | -0.374 % | |
| S2 | 0.127 | -2.19 % | ||
| S3 | 0.123 | -5.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.150 | 15.38 % | |
| R2 | 0.145 | 11.54 % | ||
| R1 | 0.135 | 3.85 % | ||
| Current price | 0.130 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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