Gulfport Energy Corporation Stock Forecast
Gulfport Energy Corporation stock price ended at $159.88 on Wednesday, after gaining 1.58%.
(Updated on Mar 27, 2024)
The Gulfport Energy Corporation stock price gained 1.58% on the last trading day (Wednesday, 27th Mar 2024), rising from $157.39 to $159.88. During the last trading day the stock fluctuated 3.30% from a day low at $155.01 to a day high of $160.12. The price has risen in 7 of the last 10 days and is up by 9.6% 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, 25 thousand more shares were traded than the day before. In total, 203 thousand shares were bought and sold for approximately $32.48 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $162.44 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 25.91% during the next 3 months and, with a 90% probability hold a price between $178.28 and $204.53 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 $158.59 and $143.58. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -0.231%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Gulfport Energy Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $150.14 and $142.72. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Gulfport Energy Corporation finds support just below today's level at $150.14. If this is broken, then the next support from accumulated volume will be at $142.72 and $141.99.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.11 between high and low, or 3.30%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: $154.17 (-3.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (GPOR) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Gulfport Energy Corporation to open at $158.34, and during the day (based on 14 day Average True Range), to move between $155.92 and $163.84, which gives a possible trading interval of +/-$3.96 (+/-2.48%) up or down from last closing price. If Gulfport Energy Corporation takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $160.25 (0.23%) than the support at $150.14 (6.09%), 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.
Is Gulfport 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 Gulfport Energy Corporation stock to perform well in the short-term.
Current score: 2.876 Buy Candidate Unchanged
Predicted Opening Price for Gulfport Energy Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$158.34 ( 0.97%) | $159.88 |
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 | 163.45 | 2.23 % | |
R2 | 161.49 | 1.01 % | ||
R1 | 160.29 | 0.256 % | ||
Current price: | 159.88 | |||
Support | S1 | 156.38 | -2.19 % | |
S2 | 155.18 | -2.94 % | ||
S3 | 153.23 | -4.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 160.25 | 0.231 % | ||
Current price | 159.88 | |||
Support | S1 | 150.14 | -6.09% | |
S2 | 142.72 | -10.73% | ||
S3 | 141.99 | -11.19% |
FAQ
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