Algonquin Power & Utilities Corp. Stock Forecast
Red day on Tuesday for Algonquin Power & Utilities Corp. stock after losing 0%
(Updated on Jun 25, 2024)
No changes to the price of Algonquin Power & Utilities Corp. stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $19.34 to a day high of $19.34. The price has been going up and down for this period, and there has been a -2.13% loss for the last 2 weeks.
The stock lies the upper part of a falling 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 $19.34 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.27% during the next 3 months and, with a 90% probability hold a price between $14.83 and $16.20 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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AQNU Signals & Forecast
There are few to no technical positive signals at the moment. The Algonquin Power & Utilities Corp. 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 $19.34 and $20.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Algonquin Power & Utilities Corp. stock
Algonquin Power & Utilities Corp. finds support from accumulated volume at $18.96 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $18.45 (-4.58%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (AQNU) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Algonquin Power & Utilities Corp. to open at $19.34, and during the day (based on 14 day Average True Range), to move between $18.94 and $19.74, which gives a possible trading interval of +/-$0.401 (+/-2.07%) 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 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.60 (1.34%) than the support at $18.96 (1.96%), 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 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $19.34 ( 0%) | $19.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AQNU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.34 | - |
| R2 | 19.34 | - |
| R1 | 19.34 | - |
| Price | 19.34 | |
| S1 | 19.34 | - |
| S2 | 19.34 | - |
| S3 | 19.34 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.28 | 10.03% |
| R2 | 19.82 | 2.48% |
| R1 | 19.60 | 1.34% |
| Price | 19.34 | |
| S1 | 18.96 | -1.96% |
| S2 | 0 | - |
| S3 | 0 | - |
AQNU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | May 31, 2024 | Jun 17, 2024 | $0.726 | 3.76% |
| 2 | Jan 11, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.97 | 4.67% |
| 3 | Oct 04, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.97 | 4.32% |
| 4 | Jun 29, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.97 | 3.79% |
| 5 | Apr 13, 2023 | May 31, 2023 | Jun 15, 2023 | $0.97 | 3.33% |
FAQ
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