PNM Resources Inc (Holding Co) Stock Forecast
PNM Resources Inc (Holding Co) stock price up 0.89% on Wednesday
(Updated on May 01, 2024)
The PNM Resources Inc (Holding Co) stock price gained 0.89% on the last trading day (Wednesday, 1st May 2024), rising from $37.06 to $37.39. During the last trading day the stock fluctuated 1.88% from a day low at $36.93 to a day high of $37.63. The price has risen in 6 of the last 10 days and is up by 4.18% over the past 2 weeks. Volume fell on the last day by -118 thousand shares and in total, 667 thousand shares were bought and sold for approximately $24.93 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $37.78 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect PNM Resources Inc (Holding Co) stock with a 90% probability to be traded between $35.52 and $37.45 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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PNM Signals & Forecast
Mostly positive signals in the chart today. The PNM Resources Inc (Holding Co) 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 $36.72 and $36.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.18%. 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 PNM Resources Inc (Holding Co) stock
PNM Resources Inc (Holding Co) finds support from accumulated volume at $36.80 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 $0.695 between high and low, or 1.88%. For the last week the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: $35.69 (-4.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (PNM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect PNM Resources Inc (Holding Co) to open at $37.32, and during the day (based on 14 day Average True Range), to move between $36.61 and $38.17, which gives a possible trading interval of +/-$0.781 (+/-2.09%) up or down from last closing price. If PNM Resources Inc (Holding Co) takes out the full calculated possible swing range there will be an estimated 4.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.60 (0.56%) than the support at $36.80 (1.58%), 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 PNM Resources Inc (Holding Co) 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 PNM Resources Inc (Holding Co) stock to perform well in the short-term period.
Current score: 3.777 Buy Candidate Unchanged
Predicted Opening Price for PNM Resources Inc (Holding Co) of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $37.32 ( 0.201%) | $37.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.01 | 1.66 % | |
| R2 | 37.74 | 0.95 % | ||
| R1 | 37.58 | 0.509 % | ||
| Current price: | 37.39 | |||
| Support | S1 | 37.05 | -0.91 % | |
| S2 | 36.89 | -1.35 % | ||
| S3 | 36.62 | -2.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.02 | 1.68 % | |
| R2 | 37.74 | 0.94 % | ||
| R1 | 37.60 | 0.562 % | ||
| Current price | 37.39 | |||
| Support | S1 | 36.80 | -1.58% | |
| S2 | 36.51 | -2.35% | ||
| S3 | 36.20 | -3.18% |
PNM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Apr 25, 2024 | May 10, 2024 | $0.388 | 1.04% |
| 2 | Dec 05, 2023 | Feb 01, 2024 | Feb 16, 2024 | $0.388 | 1.03% |
| 3 | Sep 19, 2023 | Oct 26, 2023 | Nov 10, 2023 | $0.368 | 0.87% |
| 4 | Aug 01, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.368 | 0.84% |
| 5 | Feb 28, 2023 | Apr 27, 2023 | May 12, 2023 | $0.368 | 0.771% |
FAQ
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