Algonquin Power & Utilities Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Algonquin Power & Utilities Corp. stock downgraded after the last trading session.
(Updated on May 02, 2024)
The Algonquin Power & Utilities Corp. stock price gained 3.49% on the last trading day (Thursday, 2nd May 2024), rising from $8.60 to $8.90. During the last trading day the stock fluctuated 4.97% from a day low at $8.56 to a day high of $8.98. The price has risen in 7 of the last 10 days and is up by 10.56% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $32.57 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $9.04 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.44% during the next 3 months and, with a 90% probability hold a price between $8.56 and $9.71 at the end of this 3-month period.
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AQN.TO Signals & Forecast
The Algonquin Power & Utilities Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.52 and $8.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Algonquin Power & Utilities Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.15 and $7.93. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Algonquin Power & Utilities Corp. finds support just below today's level at $8.15. If this is broken, then the next support from accumulated volume will be at $7.93 and $7.90.
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 $0.425 between high and low, or 4.97%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: $8.58 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (AQN.TO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Algonquin Power & Utilities Corp. to open at $8.81, and during the day (based on 14 day Average True Range), to move between $8.68 and $9.12, which gives a possible trading interval of +/-$0.225 (+/-2.52%) 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 5.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.15, some $0.750 (8.43%) from the current price of $8.90, our system finds the risk reward attractive.
Earnings coming up
Algonquin Power & Utilities Corp. will release earnings BMO on Friday, May 10, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.210. We will update the financials statements for Algonquin Power & Utilities Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.83% in the first trading day after earnings release.
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. 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Algonquin Power & Utilities Corp. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $8.81 ( 0.99%) | $8.90 |
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 | 9.24 | 3.78 % | |
| R2 | 9.07 | 1.96 % | ||
| R1 | 8.97 | 0.83 % | ||
| Current price: | 8.90 | |||
| Support | S1 | 8.65 | -2.82 % | |
| S2 | 8.55 | -3.94 % | ||
| S3 | 8.39 | -5.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8.90 | |||
| Support | S1 | 8.15 | -8.43% | |
| S2 | 7.93 | -10.90% | ||
| S3 | 7.90 | -11.24% |
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% |
FAQ
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