OGE Energy Corporation Stock Forecast
Green day on Thursday for OGE Energy Corporation
(Updated on Apr 18, 2024)
The OGE Energy Corporation stock price gained 0.638% on the last trading day (Thursday, 18th Apr 2024), rising from $32.94 to $33.15. During the last trading day the stock fluctuated 1.14% from a day low at $32.83 to a day high of $33.20. The price has fallen in 5 of the last 10 days and is down by -3.16% for this period. Volume fell on the last day by -29 thousand shares and in total, 1 million shares were bought and sold for approximately $35.58 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 2.80% during the next 3 months and, with a 90% probability hold a price between $33.43 and $35.71 at the end of this 3-month period.
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OGE Signals & Forecast
There are mixed signals in the stock today. The OGE Energy Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $33.65. On a fall, the stock will find some support from the short-term average at $32.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.03%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for OGE Energy Corporation stock
OGE Energy Corporation finds support from accumulated volume at $33.08 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 $0.375 between high and low, or 1.14%. For the last week the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: $31.48 (-5.05%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (OGE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect OGE Energy Corporation to open at $33.06, and during the day (based on 14 day Average True Range), to move between $32.60 and $33.70, which gives a possible trading interval of +/-$0.545 (+/-1.65%) up or down from last closing price. If OGE Energy Corporation takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.08 (0.21%) than the resistance at $33.58 (1.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OGE Energy 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 OGE Energy Corporation stock to perform well in the short-term.
Current score: 1.692 Buy Candidate Unchanged
Predicted Opening Price for OGE Energy Corporation of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$33.06 ( 0.277%) | $33.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OGE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.43 | 0.85 % | |
R2 | 33.29 | 0.423 % | ||
R1 | 33.20 | 0.156 % | ||
Current price: | 33.15 | |||
Support | S1 | 32.92 | -0.709 % | |
S2 | 32.83 | -0.98 % | ||
S3 | 32.68 | -1.41 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.35 | 3.62 % | |
R2 | 33.59 | 1.33 % | ||
R1 | 33.58 | 1.30 % | ||
Current price | 33.15 | |||
Support | S1 | 33.08 | -0.211% | |
S2 | 32.92 | -0.694% | ||
S3 | 32.31 | -2.53% |
OGE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 19, 2024 | Apr 05, 2024 | Apr 26, 2024 | $0.418 | 1.26% |
2 | Jan 05, 2024 | Jan 05, 2024 | Jan 26, 2024 | $0.418 | 1.27% |
3 | Sep 26, 2023 | Oct 06, 2023 | Oct 27, 2023 | $0.418 | 1.24% |
4 | May 18, 2023 | Jul 07, 2023 | Jul 28, 2023 | $0.414 | 1.15% |
5 | Feb 23, 2023 | Apr 06, 2023 | Apr 28, 2023 | $0.414 | 1.10% |
FAQ
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