National Energy Services Reunited Corp Stock Forecast
Green day on Thursday for National Energy Services Reunited Corp
(Updated on Apr 18, 2024)
The National Energy Services Reunited Corp stock price gained 0.559% on the last trading day (Thursday, 18th Apr 2024), rising from $8.95 to $9.00. During the last trading day the stock fluctuated 2.25% from a day low at $8.90 to a day high of $9.10. The price has been going up and down for this period, and there has been a 4.05% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 240 thousand more shares were traded than the day before. In total, 499 thousand shares were bought and sold for approximately $4.49 million.
The stock lies in the middle of a 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 15.71% during the next 3 months and, with a 90% probability hold a price between $9.34 and $11.08 at the end of this 3-month period.
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NESR Signals & Forecast
Mostly positive signals in the chart today. The National Energy Services Reunited 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 $8.86 and $8.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 07, 2024, and so far it has risen 17.04%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for National Energy Services Reunited Corp stock
National Energy Services Reunited Corp finds support from accumulated volume at $8.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.200 between high and low, or 2.25%. For the last week, the stock has had daily average volatility of 2.95%.
The National Energy Services Reunited Corp stock is extremely overbought on RSI14 (86). This increases the short-term risk substantially.
Our recommended stop-loss: $8.70 (-3.28%) (This stock has medium daily movements and this gives medium 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 (NESR) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect National Energy Services Reunited Corp to open at $9.00, and during the day (based on 14 day Average True Range), to move between $8.69 and $9.31, which gives a possible trading interval of +/-$0.307 (+/-3.42%) up or down from last closing price. If National Energy Services Reunited Corp takes out the full calculated possible swing range there will be an estimated 6.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.85, some $0.150 (1.67%) from the current price of $9.00, our system finds the risk reward attractive.
Is National Energy Services Reunited Corp 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 National Energy Services Reunited Corp stock to perform well in the short-term.
Current score: 4.278 Buy Candidate Unchanged
Predicted Opening Price for National Energy Services Reunited Corp of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $9.00 ( 0%) | $9.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NESR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.20 | 2.22 % | |
| R2 | 9.12 | 1.37 % | ||
| R1 | 9.08 | 0.85 % | ||
| Current price: | 9.00 | |||
| Support | S1 | 8.92 | -0.85 % | |
| S2 | 8.88 | -1.37 % | ||
| S3 | 8.80 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.00 | |||
| Support | S1 | 8.85 | -1.67% | |
| S2 | 8.00 | -11.11% | ||
| S3 | 7.30 | -18.89% |
FAQ
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