The NexTier Oilfield stock earlier publicized its Q2 earning report on July 25th, 2023, the reported earnings gave a positive surprise by 8.15% from the estimated earnings. Moreover, the reported revenue also gave a negative surprise by 1.01% from the estimated revenue.
NexTier Oilfield has a debt-to-equity ratio of 31.4%, as reported by Simply Wall St. This implies that it has less debt than equity, which is the difference between NexTier Oilfield’s total assets of $2.16 Billion and total liabilities of $1.03 Billion. NexTier Oilfield’s debt is $354.50 Million, while its equity is $1.13 Billion.
NexTier Oilfield experienced an incline in its earnings at a rate of 33.6% per year on average, according to Simply Wall St., a financial website. The energy services industry’s average annual earnings growth is 15.3%. Therefore, NexTier Oilfield’s earnings are higher than the industry average.
Moreover, NexTier Oilfield Solutions Inc. (NEX) stock market capitalization is $2.496 Billion and the total revenue is $3.245 Billion. Moreover, the stock’s basic EPS is $2.72 and the price-to-earnings ratio is 4.09.
Technical Analysis of NEX Stock Price in 1-D Timeframe
The price action shows that NexTier Oilfield Solutions Inc. ( NYSE: NEX) stock price was in a swift uptrend from the last three months increasing by 36.25%, and reached a high of around $11.99. Since then, the NEX stock declined as resistance was high and is in a downtrend from the last two weeks by making lower lows and highs.
At the time of publication, the NEX Stock’s current price is trading around $11.05 trying its best to sustain CMP and facing resistance from a downward trendline. It can be assumed that NexTier Oilfield Solutions Inc. ( NYSE: NEX) stock might decline more as buyers have no clear control barely holding the NEX price and may drop back to the liquidity demand zone as selling pressure is high.
Therefore, if NexTier Oilfield fails to maintain the current level. The NEX price could continue to drag downwards and hit the nearest support levels around $10.12 and $8.21.
However, if the stock price sustains the current level and the NexTier Oilfield price increases, then it might reach the nearest resistance levels of $11.99 and $13.01.
At the time of publishing, NexTier Oilfield Solutions Inc. (NYSE: NEX) is trading below the 20-day exponential moving average (EMA), which declines the NexTier Oilfield price (NEX) trend.
Furthermore, a 50-day EMA is supporting the price if more selling volume rises in NexTier Oilfield stock then the price might capture supporting EMA by making lower highs and lows.
Hence, the NexTier Oilfield price is anticipated to fall downwards as EMA’s are showing a bearish outlook over the daily time frame chart.
The current value of RSI is 50.54 points. The 14 SMA is above the median line at 59.13 points which indicates that NexTier Oilfield stock is in bearish territory and the RSI took rejection from 14 SMA and is headed towards an oversold zone indicating bearishness in NEX stock.
The MACD line at 0.1848 and signal line at 0.3572 are above the zero line and both lines have crossed each other. A bearish crossover is noticed in the MACD oscillator which expresses bearishness for the NexTier Oilfield stock price.
Summary
NexTier Oilfield Solutions Inc (NYSE: NEX) stock, highlights that the investors and traders of the stock price are negative over the daily time frame(1-D). The price action of NEX stock also gives bearish views at the time of publishing. The technical analysis tools of NexTier Oilfield stock price also support bearishness. The EMA, RSI, and MACD highlight downward signals and indicate that a downtrend may continue in NexTier Oilfield stock price.
Technical Levels
- Support levels: The nearest support levels for NexTier Oilfield stock price are $10.12 and $8.21.
- Resistance levels: The nearest resistance levels for the NexTier Oilfield stock price are $11.99 and $13.01.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/19/nextier-oilfield-stock-price-prediction-will-nex-cross-ath-12/