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GXP - Great Plains Energy Inc Mon 27'th Feb 2017

Industry: Electric Utilities Sector: Utilities
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Strong Buy Candidate

Score: 6.34

#195 of 5165
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Score:
Accuracy: 83.78%
Risk: Low
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Stock analysis for Mon 27'th Feb 2017 (Updated daily)

Buy candidate since 2017-02-08

Gain 5.06%

Great Plains Energy Inc Stock Analysis


Great Plains Energy Inc gained 0.10% in the last trading day, rising from USD 28.85 to USD 28.88. , and has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 8 of the last 10 days days and is up by 3.11% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 0.70 million more shares were traded than the day before. In total, 2.61 million shares bought and sold for approximately USD 75.37 million.

Trend

Great Plains Energy Inc has broken the narrow and weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at USD 28.66, a level that may pose a second chance to hit a runner. According to fan-theory USD 30.09 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.

Signals

Only positive signals in the chart today. Great Plains Energy Inc 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 USD 28.44 and USD 27.57. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 24, 2017, 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 86 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.

Support & Resistance

Great Plains Energy Inc finds support from accumulated volume at USD 27.55, USD 27.35, and USD 27.15. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

Risk

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 USD 0.31 (1.08%) between high and low. For the last week, the stock has had a daily average volatility of 1.71%.

The stock is extremely overbought on RSI14 (86). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Great Plains Energy Inc has been rising for 8 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stoploss: USD 27.48 (-4.85%) ( Criterias: risk and break of trend)

Evaluation

Great Plains Energy Inc holds several positive signals and has broken the weak rising trend up. As the stock is also in very good technical shape, we therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Buy Candidate.

Strong Buy Candidate


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