Energean Oil & Gas Plc Stock Forecast
Energean Oil & Gas Plc stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 19, 2024)
No changes to the price of Energean Oil & Gas Plc stock on the last trading day (Wednesday, 19th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at £1,054.00 to a day high of £1,054.00. The price has fallen in 7 of the last 10 days and is down by -8.27% for this period.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.50% during the next 3 months and, with a 90% probability hold a price between £1,032.75 and £1,280.27 at the end of this 3-month period.
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ENOG.L Signals & Forecast
There are mixed signals in the stock today. The Energean Oil & Gas Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £1,126.10. On a fall, the stock will find some support from the short-term average at £1,018.07. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, June 18, 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 Energean Oil & Gas Plc stock
Energean Oil & Gas Plc finds support from accumulated volume at £1,051.00 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 3.28%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENOG.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Energean Oil & Gas Plc to open at £1,054.00, and during the day (based on 14 day Average True Range), to move between £1,014.85 and £1,093.15, which gives a possible trading interval of +/-£39.15 (+/-3.71%) up or down from last closing price. If Energean Oil & Gas Plc takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,051.00 (0.28%) than the resistance at £1,099.00 (4.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Energean Oil & Gas Plc stock A Buy?
Energean Oil & Gas Plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.004 Sell Candidate Downgraded
Predicted Opening Price for Energean Oil & Gas Plc of Thursday, June 20, 2024
Fair opening price June 20, 2024 | Current price |
---|---|
£1,054.00 ( 0%) | £1,054.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENOG.L
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1,054.00 | - |
R2 | 1,054.00 | - |
R1 | 1,054.00 | - |
Price | 1,054.00 | |
S1 | 1,054.00 | - |
S2 | 1,054.00 | - |
S3 | 1,054.00 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1,197.00 | 13.57% |
R2 | 1,183.00 | 12.24% |
R1 | 1,099.00 | 4.27% |
Price | 1,054.00 | |
S1 | 1,051.00 | -0.285% |
S2 | 1,039.00 | -1.42% |
S3 | 1,029.00 | -2.37% |
ENOG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 06, 2024 | Jun 06, 2024 | Jun 28, 2024 | £23.60 | 2.24% |
2 | Mar 07, 2024 | Mar 07, 2024 | Mar 29, 2024 | £23.77 | 2.17% |
3 | Dec 07, 2023 | Dec 07, 2023 | Dec 29, 2023 | £23.86 | 2.29% |
4 | Sep 14, 2023 | Sep 14, 2023 | Sep 29, 2023 | £24.14 | 2.11% |
5 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £30.00 | 2.75% |
FAQ
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