Avangrid Inc Stock Forecast
Weaker technical forecast for Avangrid Inc as stock downgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
The Avangrid Inc stock price fell by -0.273% on the last day (Tuesday, 30th Apr 2024) from $36.63 to $36.53. During the last trading day the stock fluctuated 1.02% from a day low at $36.24 to a day high of $36.61. The price has risen in 6 of the last 10 days and is up by 2.3% over the past 2 weeks. Volume has increased on the last day by 128 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 661 thousand shares were bought and sold for approximately $24.16 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 24.85% during the next 3 months and, with a 90% probability hold a price between $45.11 and $47.42 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.
AGR Signals & Forecast
The Avangrid Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $36.71. On a fall, the stock will find some support from the long-term average at approximately $36.07. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -1.40%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Avangrid Inc stock
Avangrid Inc finds support from accumulated volume at $36.24 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 $0.370 between high and low, or 1.02%. For the last week the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: $35.36 (-3.21%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (AGR) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Avangrid Inc to open at $36.46, and during the day (based on 14 day Average True Range), to move between $36.03 and $37.03, which gives a possible trading interval of +/-$0.505 (+/-1.38%) up or down from last closing price. If Avangrid Inc takes out the full calculated possible swing range there will be an estimated 2.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.24 (0.79%) than the resistance at $36.84 (0.85%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.485 Hold/Accumulate Downgraded
Predicted Opening Price for Avangrid Inc of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$36.46 ( 0.192%) | $36.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.83 | 0.82 % | |
R2 | 36.69 | 0.434 % | ||
R1 | 36.60 | 0.195 % | ||
Current price: | 36.53 | |||
Support | S1 | 36.32 | -0.579 % | |
S2 | 36.23 | -0.82 % | ||
S3 | 36.09 | -1.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.05 | 1.42 % | |
R2 | 36.87 | 0.93 % | ||
R1 | 36.84 | 0.85 % | ||
Current price | 36.53 | |||
Support | S1 | 36.24 | -0.794% | |
S2 | 35.83 | -1.92% | ||
S3 | 35.51 | -2.79% |
AGR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 11, 2024 | Jun 03, 2024 | Jul 01, 2024 | $0.440 | 1.20% |
2 | Apr 11, 2024 | May 31, 2024 | Jul 01, 2024 | $0.440 | 1.20% |
3 | Feb 29, 2024 | Feb 29, 2024 | Apr 01, 2024 | $0.440 | 1.22% |
4 | Nov 30, 2023 | Nov 30, 2023 | Jan 02, 2024 | $0.440 | 1.32% |
5 | Jul 18, 2023 | Aug 31, 2023 | Oct 02, 2023 | $0.440 | 1.55% |
FAQ
Click here for our free guide on how to buy Avangrid Inc Stock.