Northwest Natural Gas Company Stock Forecast

Green day on Thursday for Northwest Natural Gas Company
(Updated on Apr 25, 2024)

NWN Signals & Forecast

Mostly positive signals in the chart today. The Northwest Natural Gas Company 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 $37.67 and $36.79. 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 8.87%. 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 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 Northwest Natural Gas Company stock

On the downside, the stock finds support just below today's level from accumulated volume at $36.35 and $35.89. 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, Northwest Natural Gas Company finds support just below today's level at $36.35. If this is broken, then the next support from accumulated volume will be at $35.89 and $35.85.

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 $0.536 (1.40%) between high and low. For the last week, the stock has had daily average volatility of 2.13%.

Since the Northwest Natural Gas Company has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $37.46 (-3.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (NWN) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Northwest Natural Gas Company to open at $38.61, and during the day (based on 14 day Average True Range), to move between $37.91 and $39.41, which gives a possible trading interval of +/-$0.749 (+/-1.94%) up or down from last closing price. If Northwest Natural Gas Company takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $38.87 (0.54%) than the support at $36.35 (5.98%), 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 Northwest Natural Gas Company stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Northwest Natural Gas Company stock to perform well in the short-term period.

Current score: 2.511 Buy Candidate Unchanged

Predicted Opening Price for Northwest Natural Gas Company of Friday, April 26, 2024

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