NN Stock Forecast
NN stock downgraded to Strong Sell Candidate
(Updated on Apr 25, 2024)
The NN stock price fell by -2.09% on the last day (Thursday, 25th Apr 2024) from $3.83 to $3.75. During the last trading day the stock fluctuated 6.67% from a day low at $3.60 to a day high of $3.84. The price has fallen in 7 of the last 10 days and is down by -6.02% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -87 thousand shares and in total, 195 thousand shares were bought and sold for approximately $731.66 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.70 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -16.30% during the next 3 months and, with a 90% probability hold a price between $3.10 and $3.95 at the end of this 3-month period.
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NNBR Signals & Forecast
There are few to no technical positive signals at the moment. The NN 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 $3.86 and $4.40. 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 21, 2024, and so far it has fallen -26.04%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for NN 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.240 between high and low, or 6.67%. For the last week the stock has had daily average volatility of 5.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NNBR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect NN to open at $3.73, and during the day (based on 14 day Average True Range), to move between $3.50 and $4.00, which gives a possible trading interval of +/-$0.248 (+/-6.61%) up or down from last closing price. If NN takes out the full calculated possible swing range there will be an estimated 13.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.84, some $0.0900 (2.40%) from the current price of $3.75, our system finds the risk reward not very attractive.
Is NN stock A Buy?
NN 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.414 Strong Sell Candidate Downgraded
Predicted Opening Price for NN of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $3.73 ( 0.533%) | $3.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NNBR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.97 | 5.87 % | |
| R2 | 3.88 | 3.42 % | ||
| R1 | 3.82 | 1.91 % | ||
| Current price: | 3.75 | |||
| Support | S1 | 3.64 | -2.98 % | |
| S2 | 3.58 | -4.49 % | ||
| S3 | 3.49 | -6.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.60 | 22.67 % | |
| R2 | 4.16 | 10.93 % | ||
| R1 | 3.84 | 2.40 % | ||
| Current price | 3.75 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
NNBR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 30, 2019 | Sep 06, 2019 | Sep 23, 2019 | $0.0700 | 0.99% |
| 2 | Jun 11, 2019 | Jun 20, 2019 | Jun 28, 2019 | $0.0700 | 0.717% |
| 3 | Feb 04, 2019 | Feb 14, 2019 | Mar 01, 2019 | $0.0700 | 0.711% |
| 4 | Nov 16, 2018 | Nov 30, 2018 | Dec 17, 2018 | $0.0700 | 1.18% |
| 5 | Aug 09, 2018 | Aug 30, 2018 | Sep 17, 2018 | $0.0700 | 0.435% |
FAQ
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