Companhia Paranaense de Energia (COPEL) Stock Forecast
Green day on Friday for Companhia Paranaense de Energia (COPEL) stock after gaining 2.00%
(Updated on Apr 26, 2024)
The Companhia Paranaense de Energia (COPEL) stock price gained 2.00% on the last trading day (Friday, 26th Apr 2024), rising from $7.00 to $7.14. During the last trading day the stock fluctuated 1.99% from a day low at $7.04 to a day high of $7.18. The price has been going up and down for this period, and there has been a -1.38% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 167 thousand shares were bought and sold for approximately $1.19 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.92% during the next 3 months and, with a 90% probability hold a price between $6.08 and $6.64 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ELP Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.00%. Further rise is indicated until a new top pivot has been found. Companhia Paranaense de Energia (COPEL) has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Companhia Paranaense de Energia (COPEL) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.17 and $7.61. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Companhia Paranaense de Energia (COPEL) stock
Companhia Paranaense de Energia (COPEL) finds support from accumulated volume at $7.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.140 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Companhia Paranaense de Energia (COPEL) to open at $7.12, and during the day (based on 14 day Average True Range), to move between $6.96 and $7.32, which gives a possible trading interval of +/-$0.183 (+/-2.57%) up or down from last closing price. If Companhia Paranaense de Energia (COPEL) takes out the full calculated possible swing range there will be an estimated 5.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.08 (0.84%) than the resistance at $7.97 (11.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Companhia Paranaense de Energia (COPEL) stock A Buy?
Companhia Paranaense de Energia (COPEL) holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.580 Sell Candidate Unchanged
Predicted Opening Price for Companhia Paranaense de Energia (COPEL) of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $7.12 ( 0.280%) | $7.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.26 | 1.68 % | |
| R2 | 7.21 | 0.93 % | ||
| R1 | 7.17 | 0.469 % | ||
| Current price: | 7.14 | |||
| Support | S1 | 7.07 | -1.03 % | |
| S2 | 7.03 | -1.49 % | ||
| S3 | 6.98 | -2.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.20 | 14.85 % | |
| R2 | 8.13 | 13.87 % | ||
| R1 | 7.97 | 11.62 % | ||
| Current price | 7.14 | |||
| Support | S1 | 7.08 | -0.84% | |
| S2 | 7.07 | -0.98% | ||
| S3 | 7.05 | -1.26% |
ELP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 02, 2024 | Jul 08, 2024 | $0.0314 | 0.439% |
| 2 | Sep 21, 2023 | Oct 02, 2023 | Dec 11, 2023 | $0.120 | 1.53% |
| 3 | Nov 04, 2022 | Nov 22, 2022 | May 09, 2023 | $0.358 | 4.69% |
| 4 | Apr 14, 2022 | May 02, 2022 | May 03, 2022 | $0.537 | 8.20% |
| 5 | Dec 13, 2021 | Dec 31, 2021 | Jan 03, 2022 | $0.0940 | 1.71% |
FAQ
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