Energa SA Stock Forecast

Energa SA stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)

ENG.WA Signals & Forecast

Mostly positive signals in the chart today. The Energa SA 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 11.03zł and 10.53zł. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 26.67%. 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). Energa SA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Monday, November 20, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Energa SA stock

On the downside, the stock finds support just below today's level from accumulated volume at 11.12zł and 9.96zł. 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, Energa SA finds support just below today's level at 11.12zł. If this is broken, then the next support from accumulated volume will be at 9.96zł and 9.93zł.

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 0.360zł between high and low, or 3.15%. For the last week, the stock has had daily average volatility of 3.07%.

Since the Energa SA has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: 11.34zł (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 85 days ago.)

Trading Expectations (ENG.WA) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Energa SA to open at 11.67zł, and during the day (based on 14 day Average True Range), to move between 11.39zł and 12.17zł, which gives a possible trading interval of +/-0.392zł (+/-3.33%) up or down from last closing price. If Energa SA takes out the full calculated possible swing range there will be an estimated 6.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 11.12zł, some 0.660zł (5.60%) from the current price of 11.78zł, our system finds the risk reward attractive.

Is Energa SA stock A Buy?

Energa SA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.560 Strong Buy Candidate Upgraded

Predicted Opening Price for Energa SA of Wednesday, July 3, 2024

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