Nexa Resources Soars 10.3% on Bullish Momentum: Is This the Start of a Major Rally?

Summary
• Nexa Resources (NEXA) surges 10.3% intraday to $11.87, nearing its 52-week high of $11.9071.
• Turnover hits 1.04 million shares, a 2.38% turnover rate, signaling heightened institutional interest.
• Analysts remain divided, with a 'Reduce' consensus rating but a recent $12.50 call option surge.

Nexa Resources is experiencing a dramatic intraday rally, driven by a confluence of technical strength and speculative options activity. The stock’s 10.3% jump to $11.87—a near 52-week high—has ignited investor curiosity, despite a 'Reduce' analyst consensus. With options like the June 2026 $12.50 call trading at 6.25% leverage and 4046 turnover, the market is clearly pricing in aggressive bullish expectations.

Options Volatility and Technical Breakouts Fuel NEXA’s Surge
Nexa Resources’ 10.3% intraday rally is primarily driven by a surge in call option activity and a breakout above key technical levels. The June 2026 $12.50 call option (NEXA20260618C12.5) has seen 4046 turnover and a 37.68% price change ratio, indicating aggressive speculative positioning. Meanwhile, the stock has pierced its 200-day moving average ($5.78) and is now trading 110% above its 52-week low. This breakout aligns with a Kline pattern signaling both short- and long-term bullish momentum, supported by a MACD crossover (0.815) and RSI at 75.79, suggesting overbought conditions but sustained buying pressure.

High-Leverage Call Options and ETFs to Capitalize on NEXA’s Momentum
• 200-day average: $5.7827 (well below current price)
• RSI: 75.79 (overbought)
• MACD: 0.815 (bullish crossover)
• Kline pattern: Short- and long-term bullish
• Bollinger Bands: $10.86 (upper) vs. $11.87 (current price)

Nexa Resources is in a high-momentum phase, with technicals favoring continuation above $11.90. Key levels to watch include the 52-week high ($11.9071) and the 30-day moving average ($8.51). The NEXA20260618C12.5 and NEXA20260618C15 call options are top picks for aggressive bulls. The C12.5 contract (code: NEXA20260618C12.5) has a 6.25% leverage ratio, 68.02% implied volatility, and 0.074568 gamma, making it sensitive to price swings. With 4046 turnover, liquidity is robust. A 5% upside to $12.46 would yield a payoff of $0.96 per contract. The C15 option (code: NEXA20260618C15) offers 9.42% leverage and 71.53% IV, ideal for higher-risk bets. Both contracts benefit from high gamma and moderate delta (0.4047–0.5524), amplifying returns if the rally continues. Aggressive bulls should consider NEXA20260618C12.5 into a break above $11.90.

Backtest Nexa Resources Stock Performance
The backtest of NEXA's performance following a 10% intraday increase from 2022 to the present reveals a significant underperformance. The strategy yielded a return of -3.32%, lagging the benchmark by 46.29%. With a maximum drawdown of 59.31% and a Sharpe ratio of -0.02, the strategy indicated a high-risk profile with considerable volatility.

Nexa Resources at Inflection Point: Act Now on Bullish Catalysts
Nexa Resources’ 10.3% surge is a critical inflection point, driven by technical breakouts and speculative call options. With RSI at overbought levels and a Kline pattern signaling sustained momentum, the stock is primed to test its 52-week high. Investors should monitor the June 2026 $12.50 call (NEXA20260618C12.5) for liquidity and leverage. Meanwhile, the sector leader Freeport-McMoRan (FCX) is up 2.11%, reinforcing bullish sentiment in base metals. If $11.90 breaks, the C12.5 call offers a high-gamma, high-leverage play. Watch for a continuation above $11.90 or a breakdown below $10.90 to confirm direction.