PG&E Corporation Stock Forecast
PG&E Corporation stock upgraded to Strong Buy Candidate.
(Updated on May 02, 2024)
The PG&E Corporation stock price gained 0.689% on the last trading day (Thursday, 2nd May 2024), rising from $17.41 to $17.53. During the last trading day the stock fluctuated 2.08% from a day low at $17.29 to a day high of $17.65. The price has risen in 8 of the last 10 days and is up by 5.99% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 9 million shares were bought and sold for approximately $163.57 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 has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $17.49, a level that may pose a second chance to hit a runner. According to fan-theory $18.84 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PCG Signals & Forecast
Mostly positive signals in the chart today. The PG&E 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 $17.20 and $16.67. 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 9.36%. 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. The stock had a Golden Star Signal on Thursday, February 29, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, February 29, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 with a target of $17.02. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for PG&E Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.41 and $16.25. 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, PG&E Corporation finds support just below today's level at $16.41. If this is broken, then the next support from accumulated volume will be at $16.25 and $16.24.
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 $0.360 (2.08%) between high and low. For the last week, the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: $16.89 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (PCG) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect PG&E Corporation to open at $17.49, and during the day (based on 14 day Average True Range), to move between $17.21 and $17.85, which gives a possible trading interval of +/-$0.323 (+/-1.84%) up or down from last closing price. If PG&E Corporation takes out the full calculated possible swing range there will be an estimated 3.68% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $16.41, some $1.12 (6.39%) from the current price of $17.53, our system finds the risk reward attractive.
Is PG&E Corporation stock A Buy?
PG&E Corporation holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape 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: 5.715 Strong Buy Candidate Upgraded
Predicted Opening Price for PG&E Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $17.49 ( 0.228%) | $17.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.85 | 1.83 % | |
| R2 | 17.71 | 1.04 % | ||
| R1 | 17.63 | 0.556 % | ||
| Current price: | 17.53 | |||
| Support | S1 | 17.35 | -1.01 % | |
| S2 | 17.27 | -1.50 % | ||
| S3 | 17.13 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 17.53 | |||
| Support | S1 | 16.41 | -6.39% | |
| S2 | 16.25 | -7.30% | ||
| S3 | 16.24 | -7.36% |
PCG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0100 | 0.0614% |
| 2 | Nov 28, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.0100 | 0.0571% |
| 3 | Sep 20, 2017 | Sep 28, 2017 | Oct 15, 2017 | $0.530 | 0.92% |
| 4 | May 31, 2017 | Jun 28, 2017 | Jul 15, 2017 | $0.530 | 0.799% |
| 5 | Mar 14, 2017 | Mar 29, 2017 | Apr 15, 2017 | $0.490 | 0.730% |
FAQ
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