Engie Brasil Energia S.A. Stock Forecast

Engie Brasil Energia S.A. stock price up 0.457% on Monday
(Updated on May 27, 2024)

EGIE3.SA Signals & Forecast

The Engie Brasil Energia S.A. 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 R$44.08. On a fall, the stock will find some support from the long-term average at approximately R$42.12. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Tuesday, May 21, 2024, and so far it has fallen -1.46%. 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).

Support, Risk & Stop-loss for Engie Brasil Energia S.A. stock

On the downside, the stock finds support just below today's level from accumulated volume at R$41.00 and R$40.15. 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, Engie Brasil Energia S.A. finds support just below today's level at R$41.00. If this is broken, then the next support from accumulated volume will be at R$40.15 and R$39.90.

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 R$0.580 between high and low, or 1.32%. For the last week, the stock has had daily average volatility of 1.66%.

Our recommended stop-loss: R$42.50 (-3.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (EGIE3.SA) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Engie Brasil Energia S.A. to open at R$44.13, and during the day (based on 14 day Average True Range), to move between R$43.08 and R$44.88, which gives a possible trading interval of +/-R$0.90 (+/-2.06%) up or down from last closing price. If Engie Brasil Energia S.A. takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at R$44.19 (0.48%) than the support at R$41.00 (6.78%), 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 Engie Brasil Energia S.A. stock A Buy?

Engie Brasil Energia S.A. 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: 0.277 Hold/Accumulate Unchanged

Predicted Opening Price for Engie Brasil Energia S.A. of Tuesday, May 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.