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Buy the 200-day Moving Average on NuScale Power Stock?
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Despite the broad market being unable to hang onto positive territory, there were a few names out there than finishing the green on Tuesday. Among them, NuScale Power (SMR - Free Report) , a high-beta name in the small modular nuclear reactor business. Monday night, the company reported a net loss of $180.3 million on revenue of $34.2 million. It ended Q4 with $446.7 million in cash on hand. That’s up from $161.7 million at the end of Q3. The company said it has long lead materials for 12 modules already in production. They also plan on upgrading from 50 Mwe to 77Mwe, expecting an NRC review concluded by mid-2025.
The stock closed yesterday at the 200-day with RSI nearly oversold at 32.93. Tuesday’s big bounce pushed off that level. Things looked great before the late day 100-handle dump in the S&P 500. The stock hit a high of $18.20, fully taking out Monday’s high. Overhead resistance sits at the 50-day at $21.43.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding NuScale Power’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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Buy the 200-day Moving Average on NuScale Power Stock?
Despite the broad market being unable to hang onto positive territory, there were a few names out there than finishing the green on Tuesday. Among them, NuScale Power (SMR - Free Report) , a high-beta name in the small modular nuclear reactor business. Monday night, the company reported a net loss of $180.3 million on revenue of $34.2 million. It ended Q4 with $446.7 million in cash on hand. That’s up from $161.7 million at the end of Q3. The company said it has long lead materials for 12 modules already in production. They also plan on upgrading from 50 Mwe to 77Mwe, expecting an NRC review concluded by mid-2025.
The stock closed yesterday at the 200-day with RSI nearly oversold at 32.93. Tuesday’s big bounce pushed off that level. Things looked great before the late day 100-handle dump in the S&P 500. The stock hit a high of $18.20, fully taking out Monday’s high. Overhead resistance sits at the 50-day at $21.43.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding NuScale Power’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.