Gulfport Energy Corporation Stock Forecast
Gulfport Energy Corporation stock upgraded to Strong Buy Candidate.
(Updated on Apr 26, 2024)
The Gulfport Energy Corporation stock price gained 1.34% on the last trading day (Friday, 26th Apr 2024), rising from $161.12 to $163.28. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.75% from a day low at $159.58 to a day high of $163.97. The price has risen in 7 of the last 10 days and is up by 4.06% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 35 thousand more shares were traded than the day before. In total, 201 thousand shares were bought and sold for approximately $32.79 million.
The stock lies in the middle of a wide and strong 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 29.69% during the next 3 months and, with a 90% probability hold a price between $203.14 and $224.22 at the end of this 3-month period.
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GPOR Signals & Forecast
The Gulfport Energy 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 $157.62 and $156.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.86%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gulfport Energy Corporation stock
Gulfport Energy Corporation finds support from accumulated volume at $160.25 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 $4.39 between high and low, or 2.75%. For the last week the stock has had daily average volatility of 2.90%.
Since the Gulfport Energy Corporation has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $156.81 (-3.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (GPOR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Gulfport Energy Corporation to open at $162.28, and during the day (based on 14 day Average True Range), to move between $159.07 and $167.49, which gives a possible trading interval of +/-$4.21 (+/-2.58%) up or down from last closing price. If Gulfport Energy Corporation takes out the full calculated possible swing range there will be an estimated 5.15% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $160.25, some $3.03 (1.86%) from the current price of $163.28, our system finds the risk reward attractive.
Earnings coming up
Gulfport Energy Corporation will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $4.32. We will update the financials statements for Gulfport Energy Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.30% in the first trading day after earnings release.
Is Gulfport Energy Corporation stock A Buy?
Gulfport Energy Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.927 Strong Buy Candidate Upgraded
Predicted Opening Price for Gulfport Energy Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $162.28 ( 0.614%) | $163.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPOR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 166.67 | 2.07 % | |
| R2 | 164.99 | 1.05 % | ||
| R1 | 163.95 | 0.413 % | ||
| Current price: | 163.28 | |||
| Support | S1 | 160.60 | -1.64 % | |
| S2 | 159.56 | -2.28 % | ||
| S3 | 157.89 | -3.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 163.28 | |||
| Support | S1 | 160.25 | -1.86% | |
| S2 | 150.14 | -8.05% | ||
| S3 | 142.72 | -12.59% |
FAQ
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