Abu Dhabi National Energy Company Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Abu Dhabi National Energy Company stock price after Thursday trading.
(Updated on May 30, 2024)
No changes to the price of Abu Dhabi National Energy Company stock on the last trading day (Thursday, 30th May 2024). During the last trading day the stock fluctuated 2.36% from a day low at $2.54 to a day high of $2.60. The price has been going up and down for this period, and there has been a -10.69% loss for the last 2 weeks.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.57 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.73% during the next 3 months and, with a 90% probability hold a price between $2.22 and $2.60 at the end of this 3-month period.
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TAQA.UH Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Abu Dhabi National Energy Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.67 and $2.87. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Abu Dhabi National Energy Company stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0600 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 2.29%.
Abu Dhabi National Energy Company is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $2.42 (-6.70%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 15 which reduces the risk some. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TAQA.UH) For The Upcoming Trading Day Of Sunday 2nd
For the upcoming trading day on Sunday, 2nd we expect Abu Dhabi National Energy Company to open at $2.58, and during the day (based on 14 day Average True Range), to move between $2.52 and $2.66, which gives a possible trading interval of +/-$0.0689 (+/-2.66%) up or down from last closing price. If Abu Dhabi National Energy Company takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.99, some $0.400 (15.44%) from the current price of $2.59, our system finds the risk reward not very attractive.
Is Abu Dhabi National Energy Company stock A Buy?
Abu Dhabi National Energy Company holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Abu Dhabi National Energy Company of Sunday, June 2, 2024
| Fair opening price June 2, 2024 | Current price |
|---|---|
| $2.58 ( 0.515%) | $2.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAQA.UH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.64 | 1.80 % | |
| R2 | 2.61 | 0.92 % | ||
| R1 | 2.60 | 0.370 % | ||
| Current price: | 2.59 | |||
| Support | S1 | 2.55 | -1.40 % | |
| S2 | 2.54 | -1.95 % | ||
| S3 | 2.52 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.05 | 17.76 % | |
| R2 | 3.00 | 15.83 % | ||
| R1 | 2.99 | 15.44 % | ||
| Current price | 2.59 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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