Surge Energy Inc. Stock Forecast
Surge Energy Inc. stock price up 0.140% on Thursday
(Updated on Jun 27, 2024)
The Surge Energy Inc. stock price gained 0.140% on the last trading day (Thursday, 27th Jun 2024), rising from $7.12 to $7.13. During the last trading day the stock fluctuated 1.64% from a day low at $7.03 to a day high of $7.15. The price has fallen in 5 of the last 10 days but is still up by 4.7% over the past 2 weeks. Volume fell on the last day by -256 thousand shares and in total, 190 thousand shares were bought and sold for approximately $1.36 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.
Given the current short-term trend, the stock is expected to fall -14.75% during the next 3 months and, with a 90% probability hold a price between $5.68 and $6.08 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SGY.TO Signals & Forecast
The Surge Energy Inc. 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 $6.97 and $6.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 5.32%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Surge Energy Inc. stock
Surge Energy Inc. finds support from accumulated volume at $6.95 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.115 between high and low, or 1.64%. For the last week the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: $6.76 (-5.17%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (SGY.TO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Surge Energy Inc. to open at $7.10, and during the day (based on 14 day Average True Range), to move between $6.95 and $7.31, which gives a possible trading interval of +/-$0.183 (+/-2.57%) up or down from last closing price. If Surge Energy Inc. takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.25 (1.68%) than the support at $6.95 (2.52%), 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 Surge Energy Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.345 Buy Candidate Unchanged
Predicted Opening Price for Surge Energy Inc. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $7.10 ( 0.397%) | $7.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.22 | 1.22% |
| R2 | 7.17 | 0.599% |
| R1 | 7.15 | 0.219% |
| Price | 7.13 | |
| S1 | 7.06 | -1.01% |
| S2 | 7.03 | -1.39% |
| S3 | 6.99 | -2.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.99 | 12.06% |
| R2 | 7.29 | 2.24% |
| R1 | 7.25 | 1.68% |
| Price | 7.13 | |
| S1 | 6.95 | -2.52% |
| S2 | 6.92 | -2.95% |
| S3 | 6.88 | -3.51% |
SGY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.0400 | 0.561% |
| 2 | May 31, 2024 | May 31, 2024 | Jun 17, 2024 | $0.0400 | 0.590% |
| 3 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.0400 | 0.580% |
| 4 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0400 | 0.522% |
| 5 | Feb 15, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0400 | 0.581% |
FAQ
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