Entergy Corporation Stock Forecast
Entergy Corporation stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The Entergy Corporation stock price gained 0.86% on the last trading day (Friday, 3rd May 2024), rising from $107.16 to $108.08. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.41% from a day low at $106.75 to a day high of $108.26. The price has risen in 6 of the last 10 days and is up by 1.23% over the past 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 1 million shares were bought and sold for approximately $123.72 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 upper part of a weak 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 $108.72 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.23% during the next 3 months and, with a 90% probability hold a price between $110.77 and $117.67 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.
ETR Signals & Forecast
Mostly positive signals in the chart today. The Entergy 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 $107.16 and $104.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.42%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Entergy Corporation stock
Entergy Corporation finds support from accumulated volume at $107.45 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 $1.51 (1.41%) between high and low. For the last week, the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: $103.69 (-4.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ETR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Entergy Corporation to open at $107.70, and during the day (based on 14 day Average True Range), to move between $106.20 and $109.96, which gives a possible trading interval of +/-$1.88 (+/-1.74%) up or down from last closing price. If Entergy Corporation takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $107.45, some $0.630 (0.58%) from the current price of $108.08, our system finds the risk reward attractive.
Is Entergy Corporation stock A Buy?
Entergy Corporation holds several positive signals and is within a weak 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: 8.325 Strong Buy Candidate Upgraded
Predicted Opening Price for Entergy Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $107.70 ( 0.355%) | $108.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 109.21 | 1.04 % | |
| R2 | 108.63 | 0.509 % | ||
| R1 | 108.27 | 0.179 % | ||
| Current price: | 108.08 | |||
| Support | S1 | 107.12 | -0.89 % | |
| S2 | 106.76 | -1.22 % | ||
| S3 | 106.19 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 108.08 | |||
| Support | S1 | 107.45 | -0.583% | |
| S2 | 106.50 | -1.46% | ||
| S3 | 106.46 | -1.50% |
ETR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | Jun 03, 2024 | $1.13 | 1.05% |
| 2 | Jan 26, 2024 | Feb 09, 2024 | Mar 01, 2024 | $1.13 | 1.12% |
| 3 | Jan 26, 2024 | Feb 08, 2024 | Mar 01, 2024 | $1.13 | 1.12% |
| 4 | Oct 27, 2023 | Nov 13, 2023 | Dec 01, 2023 | $1.13 | 1.11% |
| 5 | Jul 28, 2023 | Aug 10, 2023 | Sep 01, 2023 | $1.07 | 1.13% |
FAQ
Click here for our free guide on how to buy Entergy Corporation Stock.
