Companhia Paranaense de Energia (COPEL) 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
Green day on Monday for Companhia Paranaense de Energia (COPEL) stock after gaining 0.398%
(Updated on May 06, 2024)
The Companhia Paranaense de Energia (COPEL) stock price gained 0.398% on the last trading day (Monday, 6th May 2024), rising from $7.53 to $7.56. It has now gained 4 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 $7.53 to a day high of $7.69. The price has risen in 6 of the last 10 days and is up by 3% over the past 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 192 thousand shares were bought and sold for approximately $1.45 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -14.35% during the next 3 months and, with a 90% probability hold a price between $5.87 and $6.48 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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ELP Signals & Forecast
The Companhia Paranaense de Energia (COPEL) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.27 and $7.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 8.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Companhia Paranaense de Energia (COPEL) stock
Companhia Paranaense de Energia (COPEL) finds support from accumulated volume at $7.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.160 between high and low, or 2.12%. For the last week the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: $7.32 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (ELP) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Companhia Paranaense de Energia (COPEL) to open at $7.59, and during the day (based on 14 day Average True Range), to move between $7.37 and $7.75, which gives a possible trading interval of +/-$0.191 (+/-2.52%) up or down from last closing price. If Companhia Paranaense de Energia (COPEL) 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.
Since the stock is closer to the support from accumulated volume at $7.53 (0.40%) than the resistance at $7.72 (2.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Companhia Paranaense de Energia (COPEL) will release earnings AMC on Wednesday, May 08, 2024. We will update the financials statements for Companhia Paranaense de Energia (COPEL), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.51% in the first trading day after earnings release.
Is Companhia Paranaense de Energia (COPEL) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.844 Buy Candidate Unchanged
Predicted Opening Price for Companhia Paranaense de Energia (COPEL) of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $7.59 ( 0.441%) | $7.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.75 | 2.56 % | |
| R2 | 7.69 | 1.75 % | ||
| R1 | 7.65 | 1.25 % | ||
| Current price: | 7.56 | |||
| Support | S1 | 7.53 | -0.368 % | |
| S2 | 7.49 | -0.87 % | ||
| S3 | 7.43 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.20 | 8.47 % | |
| R2 | 8.16 | 7.94 % | ||
| R1 | 7.72 | 2.12 % | ||
| Current price | 7.56 | |||
| Support | S1 | 7.53 | -0.397% | |
| S2 | 7.28 | -3.70% | ||
| S3 | 7.08 | -6.35% |
ELP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 02, 2024 | Jul 08, 2024 | $0.0314 | 0.415% |
| 2 | Sep 21, 2023 | Oct 02, 2023 | Dec 11, 2023 | $0.120 | 1.53% |
| 3 | Nov 04, 2022 | Nov 22, 2022 | May 09, 2023 | $0.358 | 5.72% |
| 4 | Apr 14, 2022 | May 02, 2022 | May 03, 2022 | $0.537 | 10.02% |
| 5 | Dec 13, 2021 | Dec 31, 2021 | Jan 03, 2022 | $0.0940 | 2.08% |
FAQ
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