Avangrid Inc Stock Forecast

Buy or Hold candidate since Dec 11, 2024 Loss -0.21%

The Avangrid Inc stock price fell by -0.211% on the last day (Thursday, 12th Dec 2024) from $35.63 to $35.55. During the last trading day the stock fluctuated 0.281% from a day low at $35.55 to a day high of $35.65. The price has fallen in 8 of the last 10 days and is down by -1.61% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -314 thousand shares and in total, 626 thousand shares were bought and sold for approximately $22.26 million.

The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $35.48 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Avangrid Inc stock with a 90% probability to be traded between $35.53 and $36.31 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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AGR Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, December 04, 2024, and so far it has risen 0.211%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Avangrid Inc 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 $35.56 and $35.80. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Avangrid Inc stock

Avangrid Inc finds support from accumulated volume at $35.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.100 between high and low, or 0.281%. For the last week the stock has had daily average volatility of 0.222%.

Avangrid Inc is oversold on RSI14 (22). Some stock may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $33.24 (-6.50%) (This stock has very low daily movements and this gives very low risk. Low RSI14 is 22 which reduces the risk some. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (AGR) For The Upcoming Trading Day Of Friday 13th

For the upcoming trading day on Friday, 13th we expect Avangrid Inc to open at $35.58, and during the day (based on 14 day Average True Range), to move between $35.41 and $35.69, which gives a possible trading interval of +/-$0.140 (+/-0.39%) up or down from last closing price. If Avangrid Inc takes out the full calculated possible swing range there will be an estimated 0.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $35.54 (0.03%) than the resistance at $35.73 (0.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Avangrid Inc stock A Buy?

Avangrid Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.799 Hold/Accumulate Downgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 13, 2024 - $35.58 ( 0.0938%).