Nine Energy Service Inc. Stock Forecast
A very strong day for Nine Energy Service Inc. stock price on Friday
(Updated on Apr 19, 2024)
The Nine Energy Service Inc. stock price gained 6.67% on the last trading day (Friday, 19th Apr 2024), rising from $2.55 to $2.72. During the last trading day the stock fluctuated 6.15% from a day low at $2.60 to a day high of $2.76. The price has fallen in 6 of the last 10 days but is still up by 4.62% 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, 385 thousand more shares were traded than the day before. In total, 590 thousand shares were bought and sold for approximately $1.61 million.
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 11.57% during the next 3 months and, with a 90% probability hold a price between $2.38 and $3.34 at the end of this 3-month period.
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NINE Signals & Forecast
Mostly positive signals in the chart today. The Nine Energy Service Inc. 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 $2.72 and $2.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.67%. 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 Nine Energy Service Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.38 and $2.22. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nine Energy Service Inc. finds support just below today's level at $2.38. If this is broken, then the next support from accumulated volume will be at $2.22 and $2.12.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.160 between high and low, or 6.15%. For the last week, the stock has had daily average volatility of 7.33%.
Our recommended stop-loss: $2.62 (-3.68%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (NINE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Nine Energy Service Inc. to open at $2.69, and during the day (based on 14 day Average True Range), to move between $2.50 and $2.94, which gives a possible trading interval of +/-$0.216 (+/-7.93%) up or down from last closing price. If Nine Energy Service Inc. takes out the full calculated possible swing range there will be an estimated 15.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.82 (3.68%) than the support at $2.38 (12.50%), 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 Nine Energy Service Inc. 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 Nine Energy Service Inc. stock to perform well in the short-term.
Current score: 1.403 Buy Candidate Unchanged
Predicted Opening Price for Nine Energy Service Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $2.69 ( 0.98%) | $2.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NINE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.85 | 4.90 % | |
| R2 | 2.79 | 2.65 % | ||
| R1 | 2.75 | 1.27 % | ||
| Current price: | 2.72 | |||
| Support | S1 | 2.63 | -3.23 % | |
| S2 | 2.59 | -4.62 % | ||
| S3 | 2.53 | -6.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.92 | 7.35 % | |
| R2 | 2.87 | 5.51 % | ||
| R1 | 2.82 | 3.68 % | ||
| Current price | 2.72 | |||
| Support | S1 | 2.38 | -12.50% | |
| S2 | 2.22 | -18.38% | ||
| S3 | 2.12 | -22.06% |
FAQ
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