Southwest Gas Corporation Stock Forecast
Southwest Gas Corporation stock price down 0.530% on Thursday
(Updated on Apr 18, 2024)
The Southwest Gas Corporation stock price fell by -0.530% on the last day (Thursday, 18th Apr 2024) from $73.57 to $73.18. During the last trading day the stock fluctuated 2.66% from a day low at $73.11 to a day high of $75.06. The price has fallen in 7 of the last 10 days and is down by -1.97% for this period. Volume has increased on the last day by 187 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, 660 thousand shares were bought and sold for approximately $48.28 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $72.67 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.88% during the next 3 months and, with a 90% probability hold a price between $97.29 and $107.17 at the end of this 3-month period.
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SWX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -3.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Southwest Gas Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $73.09 and $72.92. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Southwest Gas Corporation stock
Southwest Gas Corporation finds support from accumulated volume at $73.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.95 (2.66%) between high and low. For the last week, the stock has had daily average volatility of 2.34%.
Our recommended stop-loss: $70.30 (-3.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SWX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Southwest Gas Corporation to open at $73.78, and during the day (based on 14 day Average True Range), to move between $71.57 and $74.79, which gives a possible trading interval of +/-$1.61 (+/-2.20%) up or down from last closing price. If Southwest Gas Corporation takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $73.03 (0.20%) than the resistance at $73.40 (0.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Southwest Gas Corporation 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 Southwest Gas Corporation stock to perform well in the short-term.
Current score: 1.246 Buy Candidate Unchanged
Predicted Opening Price for Southwest Gas Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $73.78 ( 0.82%) | $73.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.73 | 3.48 % | |
| R2 | 74.98 | 2.46 % | ||
| R1 | 74.52 | 1.84 % | ||
| Current price: | 73.18 | |||
| Support | S1 | 73.04 | -0.193 % | |
| S2 | 72.58 | -0.82 % | ||
| S3 | 71.84 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.13 | 4.03 % | |
| R2 | 74.95 | 2.42 % | ||
| R1 | 73.40 | 0.301 % | ||
| Current price | 73.18 | |||
| Support | S1 | 73.03 | -0.205% | |
| S2 | 71.06 | -2.90% | ||
| S3 | 60.03 | -17.97% |
SWX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | May 14, 2024 | Jun 03, 2024 | $0.620 | 0.85% |
| 2 | Nov 15, 2023 | Feb 14, 2024 | Mar 01, 2024 | $0.620 | 0.89% |
| 3 | Sep 20, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.620 | 1.03% |
| 4 | May 03, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.620 | 1.00% |
| 5 | Feb 23, 2023 | May 12, 2023 | Sep 01, 2023 | $0.620 | 1.00% |
FAQ
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