Newfield Exploration Company Stock Forecast

Big movements in Newfield Exploration Company stock price on Thursday moving 22.22% between high and low
(Updated on Apr 25, 2024)

NFX.L Signals & Forecast

There are few to no technical positive signals at the moment. The Newfield Exploration Company stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £0.200. On a fall, the stock will find some support from the short-term average at £0.191. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -13.04%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Newfield Exploration Company stock

Newfield Exploration Company finds support from accumulated volume at £0.192 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £0.0400 between high and low, or 22.22%. For the last week the stock has had daily average volatility of 15.45%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NFX.L) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Newfield Exploration Company to open at £0.200, and during the day (based on 14 day Average True Range), to move between £0.172 and £0.228, which gives a possible trading interval of +/-£0.0284 (+/-14.20%) up or down from last closing price. If Newfield Exploration Company takes out the full calculated possible swing range there will be an estimated 28.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.205 (2.50%) than the support at £0.192 (4.10%), 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 Newfield Exploration Company stock A Buy?

Newfield Exploration Company holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.550 Sell Candidate Unchanged

Predicted Opening Price for Newfield Exploration Company of Friday, April 26, 2024

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