SM Energy Company Stock Forecast
Red day on Wednesday for SM Energy Company stock after losing 2.89%
(Updated on May 01, 2024)
The SM Energy Company stock price fell by -2.89% on the last day (Wednesday, 1st May 2024) from $48.49 to $47.09. During the last trading day the stock fluctuated 3.99% from a day low at $46.60 to a day high of $48.46. The price has risen in 6 of the last 10 days but is still down by -4.46% for this period. 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 -397 thousand shares and in total, 1 million shares were bought and sold for approximately $57.84 million.
Given the current short-term trend, the stock is expected to rise 37.68% during the next 3 months and, with a 90% probability hold a price between $64.83 and $79.02 at the end of this 3-month period.
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SM Signals & Forecast
There are few to no technical positive signals at the moment. The SM Energy Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $49.65 and $49.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -10.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SM Energy Company stock
SM Energy Company finds support from accumulated volume at $46.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.86 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect SM Energy Company to open at $47.38, and during the day (based on 14 day Average True Range), to move between $45.71 and $48.47, which gives a possible trading interval of +/-$1.38 (+/-2.92%) up or down from last closing price. If SM Energy Company takes out the full calculated possible swing range there will be an estimated 5.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $46.79 (0.64%) than the resistance at $50.84 (7.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SM Energy Company will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.28. We will update the financials statements for SM Energy Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.77% in the first trading day after earnings release.
Is SM Energy Company stock A Buy?
The SM Energy Company stock holds several negative signals and despite the positive trend, we believe SM Energy Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.494 Sell Candidate Unchanged
Predicted Opening Price for SM Energy Company of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $47.38 ( 0.623%) | $47.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.24 | 4.57 % | |
| R2 | 48.53 | 3.06 % | ||
| R1 | 48.09 | 2.13 % | ||
| Current price: | 47.09 | |||
| Support | S1 | 46.67 | -0.89 % | |
| S2 | 46.23 | -1.82 % | ||
| S3 | 45.52 | -3.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.76 | 12.04 % | |
| R2 | 51.74 | 9.87 % | ||
| R1 | 50.84 | 7.96 % | ||
| Current price | 47.09 | |||
| Support | S1 | 46.79 | -0.637% | |
| S2 | 44.43 | -5.65% | ||
| S3 | 41.34 | -12.21% |
SM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 03, 2024 | $0.180 | 0.382% |
| 2 | Jan 18, 2024 | Jan 18, 2024 | Feb 05, 2024 | $0.180 | 0.504% |
| 3 | Sep 28, 2023 | Oct 23, 2023 | Nov 06, 2023 | $0.150 | 0.385% |
| 4 | Jun 28, 2023 | Jul 20, 2023 | Aug 07, 2023 | $0.150 | 0.386% |
| 5 | Mar 28, 2023 | Apr 20, 2023 | May 05, 2023 | $0.150 | 0.557% |
FAQ
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