Pineapple Energy Inc. Stock Forecast
Volatile ride for Pineapple Energy Inc. stock price on Tuesday moving between $1.20 and $1.34
(Updated on Jul 02, 2024)
The Pineapple Energy Inc. stock price fell by -8.40% on the last day (Tuesday, 2nd Jul 2024) from $1.31 to $1.20. During the last trading day the stock fluctuated 11.67% from a day low at $1.20 to a day high of $1.34. The price has fallen in 7 of the last 10 days but is still up by 0.84% over the past 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 -446 thousand shares and in total, 583 thousand shares were bought and sold for approximately $700.01 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 216.45% during the next 3 months and, with a 90% probability hold a price between $1.24 and $5.91 at the end of this 3-month period.
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PEGY Signals & Forecast
The Pineapple Energy Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.25. On a fall, the stock will find some support from the long-term average at approximately $0.604. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 12, 2024, and so far it has fallen -25.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Pineapple Energy Inc. stock
Pineapple Energy Inc. finds support from accumulated volume at $1.19 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.140 between high and low, or 11.67%. For the last week the stock has had daily average volatility of 15.38%.
Our recommended stop-loss: $1.13 (-5.62%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (PEGY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Pineapple Energy Inc. to open at $1.25, and during the day (based on 14 day Average True Range), to move between $1.03 and $1.37, which gives a possible trading interval of +/-$0.174 (+/-14.49%) up or down from last closing price. If Pineapple Energy Inc. takes out the full calculated possible swing range there will be an estimated 28.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.19 (0.83%) than the resistance at $1.30 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pineapple Energy Inc. stock A Buy?
Pineapple Energy Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.446 Hold/Accumulate Downgraded
Predicted Opening Price for Pineapple Energy Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.25 ( 3.89%) | $1.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEGY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.39 | 15.56% |
| R2 | 1.33 | 11.10% |
| R1 | 1.30 | 8.35% |
| Price | 1.20 | |
| S1 | 1.19 | -0.568% |
| S2 | 1.16 | -3.32% |
| S3 | 1.11 | -7.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.46 | 21.67% |
| R2 | 1.36 | 13.33% |
| R1 | 1.30 | 8.33% |
| Price | 1.20 | |
| S1 | 1.19 | -0.83% |
| S2 | 1.13 | -5.83% |
| S3 | 1.12 | -6.67% |
PEGY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 14, 2021 | Oct 18, 2021 | Oct 15, 2021 | $14.00 | 2.76% |
| 2 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | $3.50 | 0.690% |
| 3 | May 20, 2020 | Jun 12, 2020 | Jul 01, 2020 | $0.0800 | 0.0275% |
| 4 | Feb 27, 2020 | Mar 13, 2020 | Apr 01, 2020 | $0.0800 | 0.0313% |
| 5 | Dec 02, 2019 | Dec 12, 2019 | Jan 02, 2020 | $0.0800 | 0.0213% |
FAQ
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