Algonquin Power & Utilities Corp. Stock Forecast
Green day on Friday for Algonquin Power & Utilities Corp.
(Updated on Apr 19, 2024)
The Algonquin Power & Utilities Corp. stock price gained 1.49% on the last trading day (Friday, 19th Apr 2024), rising from $8.05 to $8.17. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.12% from a day low at $8.03 to a day high of $8.20. The price has risen in 6 of the last 10 days but is still down by -2.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 248 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $11.57 million.
The stock lies in the middle of a wide and weak 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 4.80% during the next 3 months and, with a 90% probability hold a price between $8.24 and $9.27 at the end of this 3-month period.
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AQN.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.21%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Algonquin Power & Utilities Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $8.25. On a fall, the stock will find some support from the short-term average at $8.08. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Algonquin Power & Utilities Corp. stock
Algonquin Power & Utilities Corp. finds support from accumulated volume at $8.00 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 $0.170 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $7.78 (-4.75%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (AQN.TO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Algonquin Power & Utilities Corp. to open at $8.13, and during the day (based on 14 day Average True Range), to move between $7.96 and $8.38, which gives a possible trading interval of +/-$0.213 (+/-2.60%) up or down from last closing price. If Algonquin Power & Utilities Corp. takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.18 (0.12%) than the support at $8.00 (2.08%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Algonquin Power & Utilities Corp. stock A Buy?
Algonquin Power & Utilities Corp. 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.
Current score: -0.565 Hold/Accumulate Unchanged
Predicted Opening Price for Algonquin Power & Utilities Corp. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $8.13 ( 0.449%) | $8.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AQN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.30 | 1.63 % | |
| R2 | 8.24 | 0.84 % | ||
| R1 | 8.20 | 0.346 % | ||
| Current price: | 8.17 | |||
| Support | S1 | 8.07 | -1.24 % | |
| S2 | 8.03 | -1.73 % | ||
| S3 | 7.96 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.32 | 1.84 % | |
| R2 | 8.21 | 0.490 % | ||
| R1 | 8.18 | 0.122 % | ||
| Current price | 8.17 | |||
| Support | S1 | 8.00 | -2.08% | |
| S2 | 7.93 | -2.94% | ||
| S3 | 7.90 | -3.30% |
AQN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.146 | 1.83% |
| 2 | Nov 10, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.300 | 3.47% |
| 3 | Aug 10, 2023 | Sep 27, 2023 | Oct 13, 2023 | $0.144 | 1.84% |
| 4 | May 11, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.144 | 1.34% |
| 5 | Mar 17, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.147 | 1.27% |
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