PG&E Corporation Stock Forecast
PG&E Corporation stock downgraded to Hold/Accumulate
(Updated on Apr 26, 2024)
The PG&E Corporation stock price fell by -0.234% on the last day (Friday, 26th Apr 2024) from $17.07 to $17.03. During the last trading day the stock fluctuated 1.42% from a day low at $16.96 to a day high of $17.20. The price has risen in 7 of the last 10 days and is up by 2.59% over the past 2 weeks. 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 -3 million shares and in total, 13 million shares were bought and sold for approximately $226.63 million.
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 $17.12 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect PG&E Corporation stock with a 90% probability to be traded between $16.17 and $17.26 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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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 $16.91 and $16.57. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -0.234%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. 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 with a target of $17.02. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
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 $0.240 between high and low, or 1.42%. For the last week the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $16.35 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PCG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect PG&E Corporation to open at $17.06, and during the day (based on 14 day Average True Range), to move between $16.70 and $17.36, which gives a possible trading interval of +/-$0.326 (+/-1.91%) up or down from last closing price. If PG&E Corporation takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.07 (0.23%) than the support at $16.41 (3.64%), 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 PG&E Corporation stock A Buy?
PG&E Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.540 Hold/Accumulate Downgraded
Predicted Opening Price for PG&E Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $17.06 ( 0.196%) | $17.03 |
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 | 17.30 | 1.61 % | |
| R2 | 17.21 | 1.07 % | ||
| R1 | 17.16 | 0.734 % | ||
| Current price: | 17.03 | |||
| Support | S1 | 16.97 | -0.343 % | |
| S2 | 16.92 | -0.675 % | ||
| S3 | 16.82 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 17.12 | 0.528 % | ||
| R1 | 17.07 | 0.235 % | ||
| Current price | 17.03 | |||
| Support | S1 | 16.41 | -3.64% | |
| S2 | 16.25 | -4.58% | ||
| S3 | 16.24 | -4.64% |
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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