Genie Energy Ltd Stock Forecast
Genie Energy Ltd stock downgraded to Sell Candidate
(Updated on May 20, 2024)
The Genie Energy Ltd stock price gained 0.261% on the last trading day (Monday, 20th May 2024), rising from $15.31 to $15.35. During the last trading day the stock fluctuated 1.72% from a day low at $15.13 to a day high of $15.39. The price has risen in 6 of the last 10 days but is still down by -2.29% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 57 thousand shares were bought and sold for approximately $877.42 thousand.
The stock lies in the middle of a very wide and 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 -14.51% during the next 3 months and, with a 90% probability hold a price between $11.12 and $14.24 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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GNE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 4.14%. Further rise is indicated until a new top pivot has been found. Genie Energy Ltd 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 Genie Energy Ltd 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 $15.38 and $15.51. 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 Genie Energy Ltd stock
Genie Energy Ltd finds support from accumulated volume at $15.08 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 $0.260 (1.72%) between high and low. For the last week, the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GNE) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Genie Energy Ltd to open at $15.29, and during the day (based on 14 day Average True Range), to move between $14.88 and $15.82, which gives a possible trading interval of +/-$0.468 (+/-3.05%) up or down from last closing price. If Genie Energy Ltd takes out the full calculated possible swing range there will be an estimated 6.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.08 (1.76%) than the resistance at $15.80 (2.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Genie Energy Ltd stock A Buy?
Genie Energy Ltd holds several negative signals and is within a very wide and 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.850 Sell Candidate Downgraded
Predicted Opening Price for Genie Energy Ltd of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$15.29 ( 0.391%) | $15.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.55 | 1.30 % | |
R2 | 15.45 | 0.656 % | ||
R1 | 15.39 | 0.256 % | ||
Current price: | 15.35 | |||
Support | S1 | 15.19 | -1.04 % | |
S2 | 15.13 | -1.44 % | ||
S3 | 15.03 | -2.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.15 | 11.73 % | |
R2 | 15.90 | 3.58 % | ||
R1 | 15.80 | 2.93 % | ||
Current price | 15.35 | |||
Support | S1 | 15.08 | -1.76% | |
S2 | 15.05 | -1.95% | ||
S3 | 15.03 | -2.08% |
GNE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 08, 2024 | May 17, 2024 | May 31, 2024 | $0.0750 | 0.489% |
2 | Feb 08, 2024 | Feb 16, 2024 | Feb 28, 2024 | $0.0750 | 0.416% |
3 | Nov 06, 2023 | Nov 10, 2023 | Nov 21, 2023 | $0.0750 | 0.300% |
4 | Aug 07, 2023 | Aug 11, 2023 | Aug 21, 2023 | $0.0750 | 0.487% |
5 | May 08, 2023 | May 18, 2023 | May 30, 2023 | $0.0750 | 0.529% |
FAQ
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