Eversource Energy Stock Forecast
Eversource Energy stock price down 1.75% on Friday
(Updated on Apr 26, 2024)
The Eversource Energy stock price fell by -1.75% on the last day (Friday, 26th Apr 2024) from $60.52 to $59.46. During the last trading day the stock fluctuated 2.22% from a day low at $59.43 to a day high of $60.75. The price has risen in 6 of the last 10 days and is up by 1.14% over the past 2 weeks. Volume has increased on the last day by 86 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $87.23 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.89% during the next 3 months and, with a 90% probability hold a price between $62.49 and $68.08 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ES Signals & Forecast
The Eversource Energy stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $60.02. On a fall, the stock will find some support from the long-term average at approximately $59.07. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.27%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -8.86% to $54.19 within 31 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Eversource Energy stock
Eversource Energy finds support from accumulated volume at $58.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.32 between high and low, or 2.22%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: $57.19 (-3.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ES) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Eversource Energy to open at $59.88, and during the day (based on 14 day Average True Range), to move between $58.13 and $60.79, which gives a possible trading interval of +/-$1.33 (+/-2.23%) up or down from last closing price. If Eversource Energy takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $59.81 (0.59%) than the support at $58.87 (0.99%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Eversource Energy will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.45. We will update the financials statements for Eversource Energy, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.13% in the first trading day after earnings release.
Is Eversource Energy stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eversource Energy stock to perform well in the short-term.
Current score: 2.733 Buy Candidate Unchanged
Predicted Opening Price for Eversource Energy of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $59.88 ( 0.706%) | $59.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ES
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.20 | 2.93 % | |
| R2 | 60.70 | 2.08 % | ||
| R1 | 60.38 | 1.55 % | ||
| Current price: | 59.46 | |||
| Support | S1 | 59.38 | -0.142 % | |
| S2 | 59.06 | -0.666 % | ||
| S3 | 58.56 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.84 | 2.32 % | |
| R2 | 60.65 | 2.00 % | ||
| R1 | 59.81 | 0.589 % | ||
| Current price | 59.46 | |||
| Support | S1 | 58.87 | -0.99% | |
| S2 | 58.62 | -1.41% | ||
| S3 | 57.06 | -4.04% |
ES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Mar 04, 2024 | Mar 29, 2024 | $0.715 | 1.20% |
| 2 | Dec 05, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.675 | 1.09% |
| 3 | Sep 14, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.680 | 1.17% |
| 4 | May 03, 2023 | May 17, 2023 | Jun 30, 2023 | $0.675 | 0.95% |
| 5 | Feb 01, 2023 | Mar 01, 2023 | Mar 31, 2023 | $0.675 | 0.86% |
FAQ
Click here for our free guide on how to buy Eversource Energy Stock.
