Good Energy Group PLC Stock Forecast
Stronger technical forecast for Good Energy Group PLC stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Good Energy Group PLC stock price gained 2.59% on the last trading day (Tuesday, 2nd Jul 2024), rising from £251.00 to £257.50. During the last trading day the stock fluctuated 6.00% from a day low at £250.00 to a day high of £265.00. The price has fallen in 5 of the last 10 days and is down by -2.28% for this period. Volume fell on the last day by -4 thousand shares and in total, 15 thousand shares were bought and sold for approximately £3.85 million. 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 lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £251.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.09% during the next 3 months and, with a 90% probability hold a price between £261.47 and £294.59 at the end of this 3-month period.
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GOOD.L Signals & Forecast
There are mixed signals in the stock today. The Good Energy Group PLC stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £257.57. On a fall, the stock will find some support from the short-term average at £253.50. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 2.59%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Good Energy Group PLC stock
Good Energy Group PLC finds support from accumulated volume at £256.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £15.00 between high and low, or 6.00%. For the last week, the stock has had daily average volatility of 4.53%.
Our recommended stop-loss: £244.59 (-5.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (GOOD.L) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Good Energy Group PLC to open at £257.50, and during the day (based on 14 day Average True Range), to move between £246.54 and £268.46, which gives a possible trading interval of +/-£10.96 (+/-4.25%) up or down from last closing price. If Good Energy Group PLC takes out the full calculated possible swing range there will be an estimated 8.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £256.00 (0.58%) than the resistance at £262.00 (1.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Good Energy Group PLC stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Good Energy Group PLC 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: 2.057 Buy Candidate Upgraded
Predicted Opening Price for Good Energy Group PLC of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| £257.50 ( 0%) | £257.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOOD.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 272.50 | 5.83% |
| R2 | 266.77 | 3.60% |
| R1 | 263.23 | 2.23% |
| Price | 257.50 | |
| S1 | 251.77 | -2.23% |
| S2 | 248.23 | -3.60% |
| S3 | 242.50 | -5.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 270.00 | 4.85% |
| R2 | 265.00 | 2.91% |
| R1 | 262.00 | 1.75% |
| Price | 257.50 | |
| S1 | 256.00 | -0.583% |
| S2 | 250.00 | -2.91% |
| S3 | 248.50 | -3.50% |
GOOD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jul 11, 2024 | £2.25 | 0.87% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Oct 27, 2023 | £1.00 | 0.439% |
| 3 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £2.00 | 1.05% |
| 4 | Sep 22, 2022 | Sep 29, 2022 | Nov 10, 2022 | £0.750 | 0.370% |
| 5 | May 25, 2022 | Jun 09, 2022 | Jul 13, 2022 | £1.80 | 0.720% |
FAQ
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