Evolution Petroleum Corp Stock Forecast
Evolution Petroleum Corp stock price ended at $5.26 on Tuesday, after losing 1.68%.
(Updated on Jul 02, 2024)
The Evolution Petroleum Corp stock price fell by -1.68% on the last day (Tuesday, 2nd Jul 2024) from $5.35 to $5.26. During the last trading day the stock fluctuated 3.83% from a day low at $5.22 to a day high of $5.42. The price has been going up and down for this period, and there has been a -1.68% loss for the last 2 weeks. Volume has increased on the last day by 117 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 390 thousand shares were bought and sold for approximately $2.05 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.00% during the next 3 months and, with a 90% probability hold a price between $4.39 and $5.08 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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EPM Signals & Forecast
There are few to no technical positive signals at the moment. The Evolution Petroleum 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 $5.32 and $5.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -9.00%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Evolution Petroleum Corp stock
Evolution Petroleum Corp finds support from accumulated volume at $5.22 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.200 between high and low, or 3.83%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EPM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Evolution Petroleum Corp to open at $5.30, and during the day (based on 14 day Average True Range), to move between $5.09 and $5.43, which gives a possible trading interval of +/-$0.175 (+/-3.33%) up or down from last closing price. If Evolution Petroleum Corp takes out the full calculated possible swing range there will be an estimated 6.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.22 (0.76%) than the resistance at $5.35 (1.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Evolution Petroleum Corp stock A Buy?
Evolution Petroleum Corp holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.757 Sell Candidate Unchanged
Predicted Opening Price for Evolution Petroleum Corp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $5.30 ( 0.760%) | $5.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EPM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.50 | 4.56% |
| R2 | 5.42 | 3.11% |
| R1 | 5.38 | 2.21% |
| Price | 5.26 | |
| S1 | 5.22 | -0.692% |
| S2 | 5.18 | -1.59% |
| S3 | 5.10 | -3.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.64 | 7.22% |
| R2 | 5.53 | 5.13% |
| R1 | 5.35 | 1.71% |
| Price | 5.26 | |
| S1 | 5.22 | -0.760% |
| S2 | 0 | - |
| S3 | 0 | - |
EPM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.120 | 2.28% |
| 2 | Feb 06, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.120 | 1.95% |
| 3 | Nov 07, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.120 | 2.07% |
| 4 | Sep 11, 2023 | Sep 21, 2023 | Sep 29, 2023 | $0.120 | 1.75% |
| 5 | May 08, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.120 | 1.49% |
FAQ
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