Evolution Petroleum Corp 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
Evolution Petroleum Corp stock price ended at $5.53 on Friday, after losing 0%.
(Updated on May 03, 2024)
No changes to the price of Evolution Petroleum Corp stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 2.54% from a day low at $5.50 to a day high of $5.64. The price has risen in 7 of the last 10 days but is still down by -3.49% for this period.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.41 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.80% during the next 3 months and, with a 90% probability hold a price between $5.67 and $6.66 at the end of this 3-month period.
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EPM Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.41%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $5.62 and $5.88. A break-up above any of these levels will issue buy signals. 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".
Support, Risk & Stop-loss for Evolution Petroleum Corp stock
Evolution Petroleum Corp finds support from accumulated volume at $5.50 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 $0.140 between high and low, or 2.54%. For the last week the stock has had daily average volatility of 3.90%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Evolution Petroleum Corp to open at $5.56, and during the day (based on 14 day Average True Range), to move between $5.36 and $5.70, which gives a possible trading interval of +/-$0.169 (+/-3.05%) up or down from last closing price. If Evolution Petroleum Corp takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.50 (0.54%) than the resistance at $5.95 (7.59%), 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
Evolution Petroleum Corp will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0300. We will update the financials statements for Evolution Petroleum Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.33% in the first trading day after earnings release.
Is Evolution Petroleum Corp stock A Buy?
The Evolution Petroleum Corp stock holds several negative signals and despite the positive trend, we believe Evolution Petroleum Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.001 Sell Candidate Unchanged
Predicted Opening Price for Evolution Petroleum Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.56 ( 0.482%) | $5.53 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 5.70 | 3.01 % | |
| R2 | 5.64 | 2.05 % | ||
| R1 | 5.61 | 1.45 % | ||
| Current price: | 5.53 | |||
| Support | S1 | 5.50 | -0.485 % | |
| S2 | 5.47 | -1.08 % | ||
| S3 | 5.42 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.25 | 13.02 % | |
| R2 | 6.04 | 9.22 % | ||
| R1 | 5.95 | 7.59 % | ||
| Current price | 5.53 | |||
| Support | S1 | 5.50 | -0.542% | |
| S2 | 5.40 | -2.35% | ||
| S3 | 5.16 | -6.69% |
EPM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.120 | 1.95% |
| 2 | Nov 07, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.120 | 2.07% |
| 3 | Sep 11, 2023 | Sep 21, 2023 | Sep 29, 2023 | $0.120 | 1.75% |
| 4 | May 08, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.120 | 1.49% |
| 5 | Feb 06, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.120 | 1.90% |
FAQ
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