Public Service Enterprise Group Stock Forecast
Public Service Enterprise Group stock upgraded to Strong Buy Candidate.
(Updated on Apr 24, 2024)
The Public Service Enterprise Group stock price gained 1.11% on the last trading day (Wednesday, 24th Apr 2024), rising from $66.49 to $67.23. During the last trading day the stock fluctuated 3.03% from a day low at $65.36 to a day high of $67.34. The price has been going up and down for this period, and there has been a 0.99% 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, 763 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $187.20 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.19% during the next 3 months and, with a 90% probability hold a price between $76.47 and $80.85 at the end of this 3-month period.
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PEG Signals & Forecast
The Public Service Enterprise Group 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 $65.80 and $65.46. 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 4.59%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Public Service Enterprise Group stock
Public Service Enterprise Group finds support from accumulated volume at $66.64 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 $1.98 between high and low, or 3.03%. For the last week the stock has had daily average volatility of 1.74%.
Our recommended stop-loss: $64.17 (-4.55%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (PEG) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Public Service Enterprise Group Incorporated to open at $66.64, and during the day (based on 14 day Average True Range), to move between $66.10 and $68.36, which gives a possible trading interval of +/-$1.13 (+/-1.69%) up or down from last closing price. If Public Service Enterprise Group Incorporated takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $66.64, some $0.590 (0.88%) from the current price of $67.23, our system finds the risk reward attractive.
Earnings coming up
Public Service Enterprise Group Incorporated will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.26. We will update the financials statements for Public Service Enterprise Group Incorporated, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.28% in the first trading day after earnings release.
Is Public Service Enterprise Group Incorporated stock A Buy?
Public Service Enterprise Group holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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: 6.770 Strong Buy Candidate Upgraded
Predicted Opening Price for Public Service Enterprise Group Incorporated of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $66.64 ( 0.87%) | $67.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.62 | 2.07 % | |
| R2 | 67.87 | 0.95 % | ||
| R1 | 67.40 | 0.252 % | ||
| Current price: | 67.23 | |||
| Support | S1 | 65.89 | -2.00 % | |
| S2 | 65.42 | -2.69 % | ||
| S3 | 64.66 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 67.23 | |||
| Support | S1 | 66.64 | -0.88% | |
| S2 | 65.03 | -3.27% | ||
| S3 | 58.20 | -13.43% |
PEG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Jun 07, 2024 | Jun 28, 2024 | $0.600 | 0.89% |
| 2 | Feb 13, 2024 | Mar 07, 2024 | Mar 29, 2024 | $0.600 | 0.90% |
| 3 | Dec 07, 2023 | Dec 07, 2023 | Dec 29, 2023 | $0.570 | 0.93% |
| 4 | Jul 17, 2023 | Sep 07, 2023 | Sep 29, 2023 | $0.570 | 1.00% |
| 5 | Apr 18, 2023 | Jun 08, 2023 | Jun 30, 2023 | $0.570 | 0.91% |
FAQ
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