Public Service Enterprise Group Inc Stock Forecast
Public Service Enterprise Group Inc stock upgraded to Buy Candidate.
(Updated on May 01, 2024)
The Public Service Enterprise Group Inc stock price gained 4.52% on the last trading day (Wednesday, 1st May 2024), rising from £7.75 to £8.10. During the last trading day the stock fluctuated 3.26% from a day low at £7.84 to a day high of £8.10. The price has been going up and down for this period, and there has been a 8% 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, 33 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately £307.40 thousand.
The stock lies in the middle of a very wide and 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 31.51% during the next 3 months and, with a 90% probability hold a price between £8.63 and £12.56 at the end of this 3-month period.
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PEG.L Signals & Forecast
Mostly positive signals in the chart today. The Public Service Enterprise Group 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 £7.80 and £7.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 23.48%. 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). Public Service Enterprise Group Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Public Service Enterprise Group Inc stock
Public Service Enterprise Group Inc finds support from accumulated volume at £7.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.256 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 1.48%.
The Public Service Enterprise Group Inc stock is extremely overbought on RSI14 (99). This increases the short-term risk substantially.
Our recommended stop-loss: £7.86 (-3.02%) (This stock has high daily movements and this gives high risk. The RSI14 is 99 and this increases the risk substantially. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (PEG.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Public Service Enterprise Group Inc to open at £8.01, and during the day (based on 14 day Average True Range), to move between £7.96 and £8.24, which gives a possible trading interval of +/-£0.142 (+/-1.75%) up or down from last closing price. If Public Service Enterprise Group Inc takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £7.75, some £0.350 (4.32%) from the current price of £8.10, our system finds the risk reward attractive.
Earnings coming up
Public Service Enterprise Group Inc will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Public Service Enterprise Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.10% in the first trading day after earnings release.
Is Public Service Enterprise Group Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Public Service Enterprise Group Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.945 Buy Candidate Upgraded
Predicted Opening Price for Public Service Enterprise Group Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £8.01 ( 1.05%) | £8.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.27 | 2.11 % | |
| R2 | 8.17 | 0.90 % | ||
| R1 | 8.11 | 0.154 % | ||
| Current price: | 8.10 | |||
| Support | S1 | 7.92 | -2.26 % | |
| S2 | 7.86 | -3.01 % | ||
| S3 | 7.76 | -4.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8.10 | |||
| Support | S1 | 7.75 | -4.32% | |
| S2 | 6.89 | -14.96% | ||
| S3 | 6.75 | -16.67% |
FAQ
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