EDP-Energias DE Portugal S.A. Forecast and Stock Analysis
Technical 0E8P.L stock analysis for March 22, 2019.
EDP-Energias DE Portugal S.A. gained 0.41% in the last trading day, rising from 3.41€ to 3.42€ , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 6.79% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 2.18 million more shares were traded than the day before. In total, 2.59 million shares bought and sold for approximately 8.87€ million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the 0E8P.L stock was 3.42€. This is 0.41% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 0.00% from a day low at 3.42€ to a day high of 3.42€.
30 day high of the 0E8P.L stock price was 3.42€ and low was 3.15€.
90 day high was 3.42€ and low was 2.93€.
52 week high for the EDP-Energias DE Portugal S.A. - 3.53€ and low - 2.91€.
EDP-Energias DE Portugal S.A. lies in the upper part of a narrow and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at 3.43€ will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 11.46% during the next 3 months and, with 90% probability hold a price between 3.66€ and 3.82€ at the end of this period.
Only positive signals in the chart today. EDP-Energias DE Portugal S.A. holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at 3.36€ and 3.25€. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday March 20, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 68 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at 3.22€ and 3.06€.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, EDP-Energias DE Portugal S.A. finds support just below today's level at 3.22€. If this is broken, then the next support from accumulated volume will be at 3.06€ and 3.06€.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved 0.00€ (0.00%) between high and low. For the last week, the stock has had a daily average volatility of 1.49%.
Our recommended stoploss: 3.27€ (-4.60%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Strong Buy Candidate
EDP-Energias DE Portugal S.A. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.