PG&E Corporation Stock Forecast
Stronger technical forecast for PG&E Corporation stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The PG&E Corporation stock price gained 0.236% on the last trading day (Wednesday, 24th Apr 2024), rising from $16.96 to $17.00. It has now gained 6 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. During the last trading day the stock fluctuated 2.40% from a day low at $16.70 to a day high of $17.10. The price has risen in 7 of the last 10 days and is up by 1.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 441 thousand more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $161.58 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $16.99 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $17.95 sometime during the next 3 months.
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PCG Signals & Forecast
The PG&E 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 $16.68 and $16.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.05%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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). The stock had a Golden Star Signal on Thursday, February 29, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, February 29, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 0.120% to $17.02 within 20 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for PG&E Corporation stock
PG&E Corporation finds support from accumulated volume at $16.41 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 $0.400 between high and low, or 2.40%. For the last week the stock has had daily average volatility of 1.59%.
Since the PG&E Corporation has been rising for 6 days in a row, the risk over 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 stop-loss: $16.30 (-4.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (PCG) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect PG&E Corporation to open at $16.93, and during the day (based on 14 day Average True Range), to move between $16.69 and $17.31, which gives a possible trading interval of +/-$0.306 (+/-1.80%) up or down from last closing price. If PG&E Corporation takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.03 (0.18%) than the support at $16.41 (3.47%), 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.
Earnings coming up
PG&E Corporation will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for PG&E Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.26% in the first trading day after earnings release.
Is PG&E Corporation stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for PG&E Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.259 Buy Candidate Upgraded
Predicted Opening Price for PG&E Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $16.93 ( 0.392%) | $17.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.33 | 1.96 % | |
| R2 | 17.18 | 1.06 % | ||
| R1 | 17.09 | 0.507 % | ||
| Current price: | 17.00 | |||
| Support | S1 | 16.78 | -1.29 % | |
| S2 | 16.69 | -1.85 % | ||
| S3 | 16.53 | -2.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 17.12 | 0.706 % | ||
| R1 | 17.03 | 0.176 % | ||
| Current price | 17.00 | |||
| Support | S1 | 16.41 | -3.47% | |
| S2 | 16.25 | -4.41% | ||
| S3 | 16.24 | -4.47% |
PCG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0100 | 0.0614% |
| 2 | Nov 28, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.0100 | 0.0571% |
| 3 | Sep 20, 2017 | Sep 28, 2017 | Oct 15, 2017 | $0.530 | 0.92% |
| 4 | May 31, 2017 | Jun 28, 2017 | Jul 15, 2017 | $0.530 | 0.799% |
| 5 | Mar 14, 2017 | Mar 29, 2017 | Apr 15, 2017 | $0.490 | 0.730% |
FAQ
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