NNDM Stock Prediction: What’s in the Nano Dimension Q2 Earnings?
NNDM stock price gave a full try to break the 50 EMA on the previous trading day and broke it at the start of the session reaching the level of $2.90. However, buyers could not sustain at that price and reach below the moving average at the level of $2.86.
NNDM stock forecast suggests sellers and buyers are yet to gain a proper grasp on the trend. Nano Dimension investors might prefer to wait for a confluence of multiple technical indicators in order to determine the direction of the trend. There is a slight increase in the green candles of volume which suggests the Nano Dimension stock price is attracting buyers at the demand zone.
Nano Dimension Ltd.’s (NNDM) 24-hour trading volume is 931.429K and the last 10 days average volume is 1.34 Million. However, the present market cap of the company is 713.735 Million with a basic EPS of -0.88 and 258.4 Million Floating shares in the market.
NNDM stock delivered quite impressive results in Q2 2023 where the revenue increased from $12.07 Million to $14.57 Million and the losses were also minimized in Q2. There was a further improvement in the net income, the losses were reduced from -87.43 Million to -9.02 Million which sounds positive.
Technical Analysis of NNDM Stock Price in 4-H Timeframe
In a 4-hour timeframe, NNDM stock price trying to breach the 50 EMA line indicates the presence of buyers in the market. However, the price is getting rejected from 50 EMA and taking support on 200-day EMA consolidating in a tight range. MACD and RSI are in the negative trajectory below the neutrality giving a neutral outlook.
Technical Analysis of NNDM Stock Price in 1-D Timeframe
Source: Tradingview
On the daily timeframe, the stock price got a rejection from the upper trendline and headed downward. At the moment NNDM stock price is trading between the key moving averages 50 EMA and 200 EMA.
MACD is heading downward breached the zero line and trading below the signal line at -0.0298 points signalling bearishness in the share price. Additionally, the RSI is trading below neutrality and giving a neutral outlook.
NNDM stock price opened at the price of $2.80 making a high of $2.90 and closed at $2.86 with a low of $2.80 in the last trading session. Price experienced a total change of 1.06% with an intraday trading volume of 931.429K.
Conclusion
On the daily time frame chart, NNDM stock price has been consolidated between 50 and 200 EMA. NNDM investor sentiments regarding the stock price are indecisive at present and may remain negative unless the buyers start stepping into the price action with substantial momentum. However, according to the technical indicators and price action, the odds are lining in the bull’s favor.
Technical Levels
- Support Levels: S1 = $2.82 and S2 = $2.53.
- Resistance levels: R1= $3.37 and R2 = $3.63.
Disclaimer
The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.
