Entergy Corporation Stock Forecast
Entergy Corporation stock price up 0.763% on Thursday
(Updated on Mar 28, 2024)
The Entergy Corporation stock price gained 0.763% on the last trading day (Thursday, 28th Mar 2024), rising from $104.88 to $105.68. During the last trading day the stock fluctuated 0.96% from a day low at $104.79 to a day high of $105.80. The price has been going up and down for this period, and there has been a 3.11% gain for the last 2 weeks. Volume fell on the last day by -542 thousand shares and in total, 1 million shares were bought and sold for approximately $106.44 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 $106.39 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Entergy Corporation stock with a 90% probability to be traded between $100.19 and $108.28 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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ETR Signals & Forecast
The Entergy Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $103.65 and $101.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 26, 2024, and so far it has risen 5.73%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Entergy Corporation stock
Entergy Corporation finds support from accumulated volume at $102.50 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 $1.01 between high and low, or 0.96%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $100.53 (-4.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ETR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Entergy Corporation to open at $105.42, and during the day (based on 14 day Average True Range), to move between $104.22 and $107.14, which gives a possible trading interval of +/-$1.46 (+/-1.38%) up or down from last closing price. If Entergy Corporation takes out the full calculated possible swing range there will be an estimated 2.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $102.50, some $3.18 (3.01%) from the current price of $105.68, our system finds the risk reward attractive.
Is Entergy Corporation 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 Entergy Corporation stock to perform well in the short-term period.
Current score: 2.818 Buy Candidate Unchanged
Predicted Opening Price for Entergy Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$105.42 ( 0.246%) | $105.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 106.43 | 0.710 % | |
R2 | 106.04 | 0.345 % | ||
R1 | 105.81 | 0.119 % | ||
Current price: | 105.68 | |||
Support | S1 | 105.03 | -0.611 % | |
S2 | 104.80 | -0.84 % | ||
S3 | 104.41 | -1.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 105.68 | |||
Support | S1 | 102.50 | -3.01% | |
S2 | 99.60 | -5.75% | ||
S3 | 99.08 | -6.25% |
ETR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 26, 2024 | Feb 09, 2024 | Mar 01, 2024 | $1.13 | 1.12% |
2 | Jan 26, 2024 | Feb 08, 2024 | Mar 01, 2024 | $1.13 | 1.12% |
3 | Oct 27, 2023 | Nov 13, 2023 | Dec 01, 2023 | $1.13 | 1.11% |
4 | Jul 28, 2023 | Aug 10, 2023 | Sep 01, 2023 | $1.07 | 1.13% |
5 | Apr 10, 2023 | May 03, 2023 | Jun 01, 2023 | $1.07 | 1.10% |
FAQ
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