Genie Energy Ltd Stock Forecast

Genie Energy Ltd stock price up 3.45% on Friday
(Updated on Apr 19, 2024)

GNE Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 7.87%. 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. The Genie Energy Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $16.14. On a fall, the stock will find some support from the short-term average at $15.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Genie Energy Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.08 and $15.05. There is a 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, Genie Energy Ltd finds support just below today's level at $15.08. If this is broken, then the next support from accumulated volume will be at $15.05 and $15.03.

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 $0.590 between high and low, or 3.85%. For the last week the stock has had daily average volatility of 2.48%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GNE) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Genie Energy Ltd to open at $15.70, and during the day (based on 14 day Average True Range), to move between $15.38 and $16.42, which gives a possible trading interval of +/-$0.515 (+/-3.24%) up or down from last closing price. If Genie Energy Ltd takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.37 (2.96%) than the support at $15.08 (5.16%), 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 Genie Energy Ltd stock A Buy?

Genie Energy Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.761 Sell Candidate Unchanged

Predicted Opening Price for Genie Energy Ltd of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.