NextEra Energy Partners LP Stock Forecast
Evaluation of NextEra Energy Partners LP stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The NextEra Energy Partners LP stock price fell by -1.48% on the last day (Thursday, 25th Apr 2024) from $29.63 to $29.19. During the last trading day the stock fluctuated 2.25% from a day low at $28.90 to a day high of $29.55. The price has been going up and down for this period, and there has been a 1.21% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -639 thousand shares and in total, 1 million shares were bought and sold for approximately $32.94 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NextEra Energy Partners LP stock with a 90% probability to be traded between $25.57 and $30.39 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NEP Signals & Forecast
The NextEra Energy Partners LP 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 $28.09 and $28.45. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.48%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for NextEra Energy Partners LP stock
NextEra Energy Partners LP finds support from accumulated volume at $28.77 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 $0.650 between high and low, or 2.25%. For the last week, the stock has had daily average volatility of 3.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NEP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect NextEra Energy Partners LP to open at $29.21, and during the day (based on 14 day Average True Range), to move between $28.13 and $30.25, which gives a possible trading interval of +/-$1.06 (+/-3.62%) up or down from last closing price. If NextEra Energy Partners LP takes out the full calculated possible swing range there will be an estimated 7.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.77 (1.44%) than the resistance at $29.63 (1.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NextEra Energy Partners LP stock A Buy?
NextEra Energy Partners LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.301 Sell Candidate Downgraded
Predicted Opening Price for NextEra Energy Partners LP of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $29.21 ( 0.0801%) | $29.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.86 | 2.31 % | |
| R2 | 29.62 | 1.46 % | ||
| R1 | 29.46 | 0.93 % | ||
| Current price: | 29.19 | |||
| Support | S1 | 28.97 | -0.770 % | |
| S2 | 28.81 | -1.30 % | ||
| S3 | 28.56 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.47 | 7.81 % | |
| R2 | 30.30 | 3.80 % | ||
| R1 | 29.63 | 1.51 % | ||
| Current price | 29.19 | |||
| Support | S1 | 28.77 | -1.44% | |
| S2 | 27.07 | -7.26% | ||
| S3 | 27.00 | -7.50% |
NEP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 05, 2024 | Feb 14, 2024 | $0.88 | 3.11% |
| 2 | Oct 24, 2023 | Nov 03, 2023 | Nov 14, 2023 | $0.87 | 3.56% |
| 3 | Jul 24, 2023 | Aug 03, 2023 | Aug 14, 2023 | $0.85 | 1.81% |
| 4 | Apr 24, 2023 | May 04, 2023 | May 15, 2023 | $0.84 | 1.36% |
| 5 | Jan 25, 2023 | Feb 03, 2023 | May 15, 2023 | $0.81 | 1.32% |
FAQ
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