IDACORP Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for IDACORP Inc stock price after Friday trading.
(Updated on May 03, 2024)
The IDACORP Inc stock price gained 0.89% on the last trading day (Friday, 3rd May 2024), rising from $95.35 to $96.20. During the last trading day the stock fluctuated 2.19% from a day low at $94.21 to a day high of $96.27. The price has risen in 6 of the last 10 days and is up by 2.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 398 thousand shares were bought and sold for approximately $38.28 million.
The stock has broken the weak 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 $96.07, a level that may pose a second chance to hit a runner. According to fan-theory $101.62 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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IDA Signals & Forecast
Mostly positive signals in the chart today. The IDACORP Inc 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 $95.21 and $92.37. 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 7.91%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Friday, March 01, 2024 with a target of $93.07. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for IDACORP Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $91.26 and $90.37. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, IDACORP Inc finds support just below today's level at $91.26. If this is broken, then the next support from accumulated volume will be at $90.37 and $89.92.
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 $2.07 (2.19%) between high and low. For the last week, the stock has had daily average volatility of 1.91%.
The IDACORP Inc stock is extremely overbought on RSI14 (79). 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: $92.05 (-4.31%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (IDA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect IDACORP Inc to open at $95.56, and during the day (based on 14 day Average True Range), to move between $94.64 and $97.76, which gives a possible trading interval of +/-$1.56 (+/-1.63%) up or down from last closing price. If IDACORP Inc takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $91.26, some $4.94 (5.14%) from the current price of $96.20, our system finds the risk reward attractive.
Is IDACORP Inc stock A Buy?
IDACORP Inc holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.503 Strong Buy Candidate Upgraded
Predicted Opening Price for IDACORP Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $95.56 ( 0.667%) | $96.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.62 | 1.48 % | |
| R2 | 96.83 | 0.660 % | ||
| R1 | 96.35 | 0.153 % | ||
| Current price: | 96.20 | |||
| Support | S1 | 94.77 | -1.49 % | |
| S2 | 94.28 | -1.99 % | ||
| S3 | 93.49 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 96.20 | |||
| Support | S1 | 91.26 | -5.14% | |
| S2 | 90.37 | -6.06% | ||
| S3 | 89.92 | -6.53% |
IDA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | May 03, 2024 | May 30, 2024 | $0.83 | 0.86% |
| 2 | Jan 18, 2024 | Feb 02, 2024 | Feb 28, 2024 | $0.83 | 0.94% |
| 3 | Oct 19, 2023 | Oct 31, 2023 | Nov 30, 2023 | $0.83 | 0.86% |
| 4 | Jul 20, 2023 | Aug 01, 2023 | Aug 31, 2023 | $0.790 | 0.82% |
| 5 | Apr 20, 2023 | May 02, 2023 | Aug 31, 2023 | $0.790 | 0.82% |
FAQ
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