Good Energy Group PLC Stock Forecast
Volatile ride for Good Energy Group PLC stock price on Wednesday moving between £232.00 and £271.70
(Updated on Mar 27, 2024)
The Good Energy Group PLC stock price fell by -8.58% on the last day (Wednesday, 27th Mar 2024) from £268.00 to £245.00. During the last trading day the stock fluctuated 17.11% from a day low at £232.00 to a day high of £271.70. The price has risen in 6 of the last 10 days but is still down by -10.26% 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 -81 thousand shares and in total, 179 thousand shares were bought and sold for approximately £43.92 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.54% during the next 3 months and, with a 90% probability hold a price between £124.92 and £237.11 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GOOD.L Signals & Forecast
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 Good Energy Group PLC 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 £294.86 and £269.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -27.08%. Further fall is indicated until a new bottom pivot has been found. 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 Good Energy Group PLC stock
Good Energy Group PLC finds support from accumulated volume at £242.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £39.70 between high and low, or 17.11%. For the last week, the stock has had daily average volatility of 12.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GOOD.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Good Energy Group PLC to open at £249.57, and during the day (based on 14 day Average True Range), to move between £220.95 and £269.05, which gives a possible trading interval of +/-£24.05 (+/-9.82%) up or down from last closing price. If Good Energy Group PLC takes out the full calculated possible swing range there will be an estimated 19.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £242.00 (1.22%) than the resistance at £250.00 (2.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Good Energy Group PLC stock A Buy?
Good Energy Group PLC holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.112 Sell Candidate Upgraded
Predicted Opening Price for Good Energy Group PLC of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£249.57 ( 1.86%) | £245.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOOD.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 289.27 | 18.07 % | |
R2 | 274.10 | 11.88 % | ||
R1 | 264.73 | 8.05 % | ||
Current price: | 245.00 | |||
Support | S1 | 234.40 | -4.33 % | |
S2 | 225.03 | -8.15 % | ||
S3 | 209.87 | -14.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 268.00 | 9.39 % | |
R2 | 252.00 | 2.86 % | ||
R1 | 250.00 | 2.04 % | ||
Current price | 245.00 | |||
Support | S1 | 242.00 | -1.22% | |
S2 | 240.00 | -2.04% | ||
S3 | 0 | . |
GOOD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £2.00 | 1.05% |
2 | Sep 22, 2022 | Sep 29, 2022 | Nov 10, 2022 | £0.750 | 0.370% |
3 | May 25, 2022 | Jun 09, 2022 | Jul 13, 2022 | £1.80 | 0.720% |
4 | Oct 11, 2021 | Oct 21, 2021 | Nov 29, 2021 | £0.750 | 0.270% |
5 | Sep 10, 2019 | Sep 19, 2019 | Oct 31, 2019 | £1.10 | 0.726% |
FAQ
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