GALP ENERGIA ADR Stock Forecast
Weaker technical forecast for GALP ENERGIA ADR as stock downgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The GALP ENERGIA ADR stock price gained 2.25% on the last trading day (Thursday, 25th Apr 2024), rising from $10.64 to $10.88. During the last trading day the stock fluctuated 1.78% from a day low at $10.70 to a day high of $10.89. The price has fallen in 6 of the last 10 days but is still up by 25.49% over the past 2 weeks. Volume fell on the last day by -27 thousand shares and in total, 56 thousand shares were bought and sold for approximately $611.02 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $9.35, a level that may pose a second chance to hit a runner.
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GLPEY Signals & Forecast
The GALP ENERGIA ADR 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 $9.72 and $8.58. 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 28.82%. Further rise is indicated until a new top pivot has been found. 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. 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 also not. The stock had a Golden Star Signal on Friday, February 16, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, February 16, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for GALP ENERGIA ADR stock
GALP ENERGIA ADR finds support from accumulated volume at $10.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.190 between high and low, or 1.78%. For the last week the stock has had daily average volatility of 2.12%.
The GALP ENERGIA ADR stock is extremely overbought on RSI14 (84). 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: $10.57 (-2.82%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (GLPEY) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect GALP ENERGIA ADR to open at $10.82, and during the day (based on 14 day Average True Range), to move between $10.61 and $11.15, which gives a possible trading interval of +/-$0.273 (+/-2.50%) up or down from last closing price. If GALP ENERGIA ADR takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.74, some $0.140 (1.29%) from the current price of $10.88, our system finds the risk reward attractive.
Earnings coming up
GALP ENERGIA ADR will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.180. We will update the financials statements for GALP ENERGIA ADR, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.03% in the first trading day after earnings release.
Is GALP ENERGIA ADR stock A Buy?
GALP ENERGIA ADR 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for GALP ENERGIA ADR of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$10.82 ( 0.521%) | $10.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLPEY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.01 | 1.23 % | |
R2 | 10.94 | 0.558 % | ||
R1 | 10.90 | 0.146 % | ||
Current price: | 10.88 | |||
Support | S1 | 10.75 | -1.19 % | |
S2 | 10.71 | -1.60 % | ||
S3 | 10.63 | -2.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 10.88 | |||
Support | S1 | 10.74 | -1.29% | |
S2 | 10.29 | -5.45% | ||
S3 | 8.53 | -21.60% |
GLPEY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 17, 2023 | Aug 25, 2023 | Sep 11, 2023 | $0.147 | 2.00% |
2 | May 25, 2023 | May 25, 2023 | Jun 09, 2023 | $0.141 | 2.48% |
3 | Sep 16, 2022 | Sep 22, 2022 | Oct 05, 2022 | $0.130 | 2.53% |
4 | May 06, 2022 | May 11, 2022 | May 25, 2022 | $0.132 | 2.14% |
5 | Sep 01, 2021 | Sep 14, 2021 | Oct 01, 2021 | $0.148 | 2.63% |
FAQ
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