Neoenergia S.A. Stock Forecast
Neoenergia S.A. stock price up 0.653% on Monday
(Updated on May 20, 2024)
The Neoenergia S.A. stock price gained 0.653% on the last trading day (Monday, 20th May 2024), rising from R$19.91 to R$20.04. During the last trading day the stock fluctuated 2.38% from a day low at R$19.76 to a day high of R$20.23. The price has been going up and down for this period, and there has been a 1.67% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 115 thousand more shares were traded than the day before. In total, 812 thousand shares were bought and sold for approximately R$16.27 million.
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 R$20.28 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 -10.08% during the next 3 months and, with a 90% probability hold a price between R$16.78 and R$18.24 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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NEOE3.SA Signals & Forecast
Mostly positive signals in the chart today. The Neoenergia S.A. 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 R$19.81 and R$19.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 4.48%. 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.
Support, Risk & Stop-loss for Neoenergia S.A. stock
Neoenergia S.A. finds support from accumulated volume at R$19.76 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved R$0.470 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: R$19.29 (-3.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (NEOE3.SA) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Neoenergia S.A. to open at R$20.01, and during the day (based on 14 day Average True Range), to move between R$19.65 and R$20.43, which gives a possible trading interval of +/-R$0.393 (+/-1.96%) up or down from last closing price. If Neoenergia S.A. takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$19.76 (1.40%) than the resistance at R$20.35 (1.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Neoenergia S.A. 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.
Current score: 1.569 Buy Candidate Unchanged
Predicted Opening Price for Neoenergia S.A. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| R$20.01 ( 0.150%) | R$20.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEOE3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.48 | 2.20 % | |
| R2 | 20.30 | 1.30 % | ||
| R1 | 20.19 | 0.746 % | ||
| Current price: | 20.04 | |||
| Support | S1 | 19.83 | -1.05 % | |
| S2 | 19.72 | -1.60 % | ||
| S3 | 19.54 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.40 | 6.79 % | |
| R2 | 20.86 | 4.09 % | ||
| R1 | 20.35 | 1.55 % | ||
| Current price | 20.04 | |||
| Support | S1 | 19.76 | -1.40% | |
| S2 | 19.57 | -2.35% | ||
| S3 | 19.30 | -3.69% |
NEOE3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Apr 22, 2024 | R$0 | 0% |
| 2 | Jan 05, 2024 | Jan 05, 2024 | Jan 05, 2024 | R$0 | 0% |
| 3 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | R$0.319 | 1.60% |
| 4 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | R$0.584 | 3.97% |
| 5 | Jan 05, 2023 | Jan 05, 2023 | Jan 05, 2023 | R$0.254 | 1.91% |
FAQ
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