Actions of the 3D geolocation service provider Nextnav Inc (NASDAQ:NN) have struggled lately and are now at a 17.8% deficit for 2025. Last seen down 0.7% to trade at $12.84, NN is far from this year’s high of $18.25, but support at the $12 level has controlled price action over the past week. Additionally, a historically bullish trendline suggests tailwinds may be in store for stocks.
Shares are within 0.75 of the 20-day average true range (ATR) of the 320-day moving average, having spent at least 80% of the last 10 days and 42 trading days above that trendline, according to Schaeffer senior quantitative analyst Rocky White. This happened two other times in the last three years, after which the stock rose a month later each time, with an average gain of 36.4%. A move of similar magnitude from where stocks currently stand would take them back above $17 for the first time since late September.
The stock could benefit from an unwinding of pessimism in the options wells. This is NN’s Schaeffer put/call open interest ratio (SOIR) which is higher than 87% of last year’s readings.
