Nanophase Technologies Corp Stock Forecast
Stronger technical forecast for Nanophase Technologies Corp stock price after Monday trading.
(Updated on Apr 22, 2024)
The Nanophase Technologies Corp stock price gained 2.06% on the last trading day (Monday, 22nd Apr 2024), rising from $0.97 to $0.99. During the last trading day the stock fluctuated 1.85% from a day low at $0.97 to a day high of $0.99. The price has risen in 6 of the last 10 days and is up by 24.53% 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, 48 thousand more shares were traded than the day before. In total, 52 thousand shares were bought and sold for approximately $51.30 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 40.83% during the next 3 months and, with a 90% probability hold a price between $0.87 and $1.65 at the end of this 3-month period.
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NANX Signals & Forecast
Mostly positive signals in the chart today. The Nanophase Technologies Corp 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 $0.95 and $0.743. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 115.17%. 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). Nanophase Technologies Corp 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nanophase Technologies Corp stock
Nanophase Technologies Corp finds support from accumulated volume at $0.98 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 $0.0180 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 2.67%.
The Nanophase Technologies Corp stock is extremely overbought on RSI14 (86). This increases the short-term risk substantially.
Our recommended stop-loss: $0.96 (-3.28%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (NANX) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Nanophase Technologies Corp to open at $0.98, and during the day (based on 14 day Average True Range), to move between $0.93 and $1.05, which gives a possible trading interval of +/-$0.0604 (+/-6.10%) up or down from last closing price. If Nanophase Technologies Corp takes out the full calculated possible swing range there will be an estimated 12.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.98, some $0.0130 (1.31%) from the current price of $0.99, our system finds the risk reward attractive.
Earnings coming up
Nanophase Technologies Corp will release earnings -- on Tuesday, April 23, 2024. We will update the financials statements for Nanophase Technologies Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.64% in the first trading day after earnings release.
Is Nanophase Technologies Corp stock A Buy?
Nanophase Technologies Corp holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.900 Strong Buy Candidate Upgraded
Predicted Opening Price for Nanophase Technologies Corp of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.98 ( 0.606%) | $0.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NANX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 1.21 % | |
| R2 | 1.00 | 0.518 % | ||
| R1 | 0.99 | 0.0885 % | ||
| Current price: | 0.99 | |||
| Support | S1 | 0.98 | -1.30 % | |
| S2 | 0.97 | -1.73 % | ||
| S3 | 0.97 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.99 | |||
| Support | S1 | 0.98 | -1.31% | |
| S2 | 0.89 | -10.61% | ||
| S3 | 0.86 | -13.13% |
FAQ
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