small-cap

One NASDAQ- Listed Electric Utility Stock at Resistance Level: NNE

Sep 23, 2024 | Team Kalkine

Read Time :5 min

One NASDAQ- Listed Electric Utility Stock at Resistance Level: NNE

NNE:NASDAQ

Investment Type

Small-Cap

Risk Level

Action

Rec. Price (US$)

Nano Nuclear Energy Inc.

Nano Nuclear Energy Inc. (NASDAQ: NNE) is an early-stage nuclear energy company. The Company is focused on developing smaller, cheaper, and safer advanced portable clean energy solutions utilizing proprietary reactor designs. It is focused on four business lines, including Micro Nuclear Reactor Business.

As per our previous US Dailies report published on ‘NNE’ on 20^thSep 2024, Kalkine provided an ‘Speculative Buy’ stance on the stock at USD 11.50 based on technical analysis and the stock price has now moved by ~29.13% since then and is trading above resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

NNE’s Daily Chart

Considering the current trading levels, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the ‘NNE’ at the current market price of USD 14.85 as of Sep 23, 2024 (8:44 am PDT).

Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is Sep 23, 2024 (8:44 am PDT). The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

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