FirstEnergy Corporation Stock Forecast
FirstEnergy Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The FirstEnergy Corporation stock price gained 0.472% on the last trading day (Wednesday, 24th Apr 2024), rising from $38.12 to $38.30. During the last trading day the stock fluctuated 1.83% from a day low at $37.69 to a day high of $38.38. The price has been going up and down for this period, and there has been a 1.22% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 450 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $91.72 million.
The stock lies in the middle of a 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 4.73% during the next 3 months and, with a 90% probability hold a price between $38.75 and $40.98 at the end of this 3-month period.
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FE Signals & Forecast
The FirstEnergy Corporation 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 $37.82 and $38.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.99%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for FirstEnergy Corporation stock
FirstEnergy Corporation finds support from accumulated volume at $38.21 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.690 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: $36.43 (-4.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (FE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect FirstEnergy Corporation to open at $38.12, and during the day (based on 14 day Average True Range), to move between $37.72 and $38.88, which gives a possible trading interval of +/-$0.577 (+/-1.51%) up or down from last closing price. If FirstEnergy Corporation takes out the full calculated possible swing range there will be an estimated 3.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.37 (0.18%) than the support at $38.21 (0.23%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
FirstEnergy Corporation will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.540. We will update the financials statements for FirstEnergy Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.09% in the first trading day after earnings release.
Is FirstEnergy Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for FirstEnergy Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.683 Buy Candidate Upgraded
Predicted Opening Price for FirstEnergy Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $38.12 ( 0.461%) | $38.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.81 | 1.34 % | |
| R2 | 38.55 | 0.652 % | ||
| R1 | 38.39 | 0.227 % | ||
| Current price: | 38.30 | |||
| Support | S1 | 37.86 | -1.15 % | |
| S2 | 37.70 | -1.57 % | ||
| S3 | 37.43 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.47 | 0.444 % | |
| R2 | 38.46 | 0.418 % | ||
| R1 | 38.37 | 0.183 % | ||
| Current price | 38.30 | |||
| Support | S1 | 38.21 | -0.235% | |
| S2 | 37.31 | -2.58% | ||
| S3 | 37.30 | -2.61% |
FE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | May 06, 2024 | Jun 01, 2024 | $0.430 | 1.12% |
| 2 | Dec 20, 2023 | Feb 06, 2024 | Mar 01, 2024 | $0.410 | 1.12% |
| 3 | Sep 26, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.410 | 1.10% |
| 4 | Sep 26, 2023 | Nov 06, 2023 | Dec 01, 2023 | $0.410 | 1.10% |
| 5 | Jul 26, 2023 | Aug 04, 2023 | Sep 01, 2023 | $0.390 | 1.09% |
FAQ
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