Genesis Energy Limited Stock Forecast
Red day on Tuesday for Genesis Energy Limited
(Updated on May 28, 2024)
The Genesis Energy Limited stock price fell by -1.74% on the last day (Tuesday, 28th May 2024) from $2.01 to $1.98. During the last trading day the stock fluctuated 2.56% from a day low at $1.95 to a day high of $2.00. The price has risen in 5 of the last 10 days but is still down by -4.13% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 56 thousand shares were bought and sold for approximately $111.18 thousand.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.96 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -14.38% during the next 3 months and, with a 90% probability hold a price between $1.68 and $1.78 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.AX Signals & Forecast
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. The Genesis Energy Limited 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 $2.04 and $2.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -6.40%. Further fall is indicated until a new bottom pivot has been found. Genesis Energy Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Genesis Energy Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0500 (2.56%) between high and low. For the last week, the stock has had daily average volatility of 2.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GNE.AX) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Genesis Energy Limited to open at $1.98, and during the day (based on 14 day Average True Range), to move between $1.92 and $2.03, which gives a possible trading interval of +/-$0.0510 (+/-2.58%) up or down from last closing price. If Genesis Energy Limited takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.01, some $0.0350 (1.77%) from the current price of $1.98, our system finds the risk reward not very attractive.
Is Genesis Energy Limited stock A Buy?
Genesis Energy Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.607 Sell Candidate Unchanged
Predicted Opening Price for Genesis Energy Limited of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $1.98 ( 0.00000000%) | $1.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.03 | 2.53 % | |
| R2 | 2.01 | 1.56 % | ||
| R1 | 1.99 | 0.97 % | ||
| Current price: | 1.98 | |||
| Support | S1 | 1.96 | -0.97 % | |
| S2 | 1.94 | -1.56 % | ||
| S3 | 1.93 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.06 | 4.30 % | |
| R2 | 2.04 | 3.29 % | ||
| R1 | 2.01 | 1.77 % | ||
| Current price | 1.98 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GNE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Apr 10, 2024 | $0.0778 | 3.54% |
| 2 | Mar 22, 2023 | Mar 22, 2023 | Mar 22, 2023 | $0.0821 | 3.28% |
| 3 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | $0.0758 | 3.00% |
| 4 | Mar 17, 2022 | Mar 17, 2022 | Mar 17, 2022 | $0.0780 | 2.98% |
| 5 | Sep 23, 2021 | Sep 23, 2021 | Sep 23, 2021 | $0.0819 | 2.54% |
FAQ
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