- The NXT stock price is trading at its 52-week high level.
- The stock price has surged by over 36% in a year.
- It is trading above its 50-day and 100-day Exponential Moving Average.
The market capital of the NXT stock – $9.046 Billion
The current market price of NXT stock – $7390
Next Stock Overview
The NXT stock price has surged by over 4% in a week, and 9% in a month which states that the price is super bullish. The price surged by over 36% in a year. It shows that the buyers have dominated the price throughout the year. This stock’s price is trading at a 52-week high level. It signifies that the current buyers are aggressive in this stock.
The revenue of the company has risen slightly over the years. In 2016 the revenue of the company was 4.10 Billion, which has surged to $5.03 Billion in 2022, a rise of 22%.
If we consider the net income of the company, it has also followed the same path of net revenue. It has risen from $635.30 Million in 2016 to $711.70 Million in 2022, a rise of just 11% in 6 years.
The company has paid a total dividend of $3.53 in the financial year of 2022. The dividend yield of the company for the year 2022 was 3.10%, which is adequate. If we examine the net debt of the company, then it has risen from $865.10 Million in 2016 to $1.80 Billion in 2022.
Technical Analysis of Next Stock
The price of the stock is in a strong uptrend and the price is trading very close to its all-time high level. The Next stock price can face rejection near the level of $7686, which is drawn in red on the chart. Its nearest support zone is present near the level of $6230 which is marked as support 1 on the chart.
The crucial support level for the stock is present near the level of $5400, which is marked as support 2 on the chart. If we observe the chart, this level can be considered as the neckline of the inverted head and shoulder pattern. $4190 can also act as a support for the price which is drawn as support 3 on the chart.
The Upward Slope of the EMA indicates Bullishness
The stock price is trading above the 50-day and 100-day Exponential Moving Average, which is a bullish sign for the stock. If we observe the slope of the EMA, it is upward which indicates that the price is in a strong uptrend. The Relative Strength Index (RSI) is placed above 50. It shows the bulls are gaining momentum.
Conclusion
The price is in a strong uptrend. If it breaks the resistance level of $7890, it can try to achieve the level of $9000. Suppose the price of the stock breaks the support level of $6240, it can unlock the level of $5400
Technical Level
Resistance – $7890
Support – $6240 and $5400.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.