Genie Energy Ltd Stock Forecast
Genie Energy Ltd stock price down 0% on Wednesday
(Updated on Jul 03, 2024)
No changes to the price of Genie Energy Ltd stock on the last trading day (Wednesday, 3rd Jul 2024). During the last trading day the stock fluctuated 2.29% from a day low at $15.05 to a day high of $15.39. The price has risen in 7 of the last 10 days and is up by 6.01% over the past 2 weeks.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $15.24 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.08% during the next 3 months and, with a 90% probability hold a price between $13.07 and $14.16 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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GNE Signals & Forecast
The Genie Energy Ltd 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 $14.71 and $14.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 6.75%. 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 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 Genie Energy Ltd stock
Genie Energy Ltd finds support from accumulated volume at $15.03 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.345 between high and low, or 2.29%. For the last week the stock has had daily average volatility of 2.78%.
Our recommended stop-loss: $14.61 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (GNE) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Genie Energy Ltd to open at $15.21, and during the day (based on 14 day Average True Range), to move between $14.78 and $15.58, which gives a possible trading interval of +/-$0.402 (+/-2.65%) up or down from last closing price. If Genie Energy Ltd takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.29 (0.72%) than the support at $15.03 (0.99%), 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 Genie Energy Ltd stock A Buy?
Genie Energy Ltd 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: 0.733 Hold/Accumulate Unchanged
Predicted Opening Price for Genie Energy Ltd of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $15.21 ( 0.165%) | $15.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.55 | 2.44% |
| R2 | 15.42 | 1.57% |
| R1 | 15.34 | 1.03% |
| Price | 15.18 | |
| S1 | 15.07 | -0.703% |
| S2 | 14.99 | -1.24% |
| S3 | 14.86 | -2.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.37 | 1.25% |
| R2 | 15.33 | 0.99% |
| R1 | 15.29 | 0.725% |
| Price | 15.18 | |
| S1 | 15.03 | -0.99% |
| S2 | 14.96 | -1.45% |
| S3 | 14.78 | -2.64% |
GNE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 17, 2024 | May 31, 2024 | $0.0750 | 0.491% |
| 2 | Feb 08, 2024 | Feb 16, 2024 | Feb 28, 2024 | $0.0750 | 0.416% |
| 3 | Nov 06, 2023 | Nov 10, 2023 | Nov 21, 2023 | $0.0750 | 0.300% |
| 4 | Aug 07, 2023 | Aug 11, 2023 | Aug 21, 2023 | $0.0750 | 0.487% |
| 5 | May 08, 2023 | May 18, 2023 | May 30, 2023 | $0.0750 | 0.529% |
FAQ
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