Gas Natural SDG Stock Forecast

Green day on Thursday for Gas Natural SDG stock after gaining 1.12%
(Updated on May 02, 2024)

GASNY Signals & Forecast

The Gas Natural SDG 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 $5.03 and $4.53. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.0787%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Gas Natural SDG stock

On the downside, the stock finds support just below today's level from accumulated volume at $4.57 and $4.31. 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, Gas Natural SDG finds support just below today's level at $4.57. If this is broken, then the next support from accumulated volume will be at $4.31 and $4.29.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0400 between high and low, or 0.794%. For the last week the stock has had daily average volatility of 1.65%.

The Gas Natural SDG stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $4.93 (-2.86%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (GASNY) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Gas Natural SDG to open at $5.07, and during the day (based on 14 day Average True Range), to move between $4.96 and $5.19, which gives a possible trading interval of +/-$0.114 (+/-2.25%) up or down from last closing price. If Gas Natural SDG takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.08 (0.08%) than the support at $4.57 (9.97%), 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.

Is Gas Natural SDG stock A Buy?

Gas Natural SDG holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.412 Hold/Accumulate Unchanged

Predicted Opening Price for Gas Natural SDG of Friday, May 3, 2024

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