Genie Energy Ltd Stock Forecast

Genie Energy Ltd stock upgraded to Buy Candidate.
(Updated on May 01, 2024)

GNE Signals & Forecast

The Genie Energy Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $15.75. On a fall, the stock will find some support from the long-term average at approximately $15.62. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 6.58%. 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.

Support, Risk & Stop-loss for Genie Energy Ltd stock

Genie Energy Ltd finds support from accumulated volume at $15.08 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 $0.610 between high and low, or 3.98%. For the last week the stock has had daily average volatility of 3.40%.

Our recommended stop-loss: $14.97 (-4.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)

Trading Expectations (GNE) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Genie Energy Ltd to open at $15.65, and during the day (based on 14 day Average True Range), to move between $15.19 and $16.23, which gives a possible trading interval of +/-$0.516 (+/-3.29%) up or down from last closing price. If Genie Energy Ltd takes out the full calculated possible swing range there will be an estimated 6.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $15.80 (0.57%) than the support at $15.08 (4.01%), 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?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.492 Buy Candidate Upgraded

Predicted Opening Price for Genie Energy Ltd of Thursday, May 2, 2024

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