PNM Resources Inc (Holding Co) Stock Forecast
Red day on Thursday for PNM Resources Inc (Holding Co)
(Updated on Apr 25, 2024)
The PNM Resources Inc (Holding Co) stock price fell by -0.85% on the last day (Thursday, 25th Apr 2024) from $36.63 to $36.32. During the last trading day the stock fluctuated 1.37% from a day low at $35.88 to a day high of $36.37. The price has fallen in 6 of the last 10 days and is down by -1.6% for this period. Volume has increased on the last day by 16 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 525 thousand shares were bought and sold for approximately $19.06 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PNM Resources Inc (Holding Co) stock with a 90% probability to be traded between $34.40 and $37.71 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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PNM Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.20%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PNM Resources Inc (Holding Co) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $36.36 and $36.93. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for PNM Resources Inc (Holding Co) stock
PNM Resources Inc (Holding Co) finds support from accumulated volume at $36.28 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 $0.490 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PNM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PNM Resources Inc (Holding Co) to open at $36.19, and during the day (based on 14 day Average True Range), to move between $35.63 and $37.01, which gives a possible trading interval of +/-$0.689 (+/-1.90%) up or down from last closing price. If PNM Resources Inc (Holding Co) takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.28 (0.11%) than the resistance at $36.51 (0.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
PNM Resources Inc (Holding Co) will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.680. We will update the financials statements for PNM Resources Inc (Holding Co), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.45% in the first trading day after earnings release.
Is PNM Resources Inc (Holding Co) stock A Buy?
PNM Resources Inc (Holding Co) holds several negative signals and is within a 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.
Current score: -3.491 Sell Candidate Unchanged
Predicted Opening Price for PNM Resources Inc (Holding Co) of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $36.19 ( 0.358%) | $36.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.68 | 0.99 % | |
| R2 | 36.49 | 0.476 % | ||
| R1 | 36.38 | 0.157 % | ||
| Current price: | 36.32 | |||
| Support | S1 | 36.00 | -0.87 % | |
| S2 | 35.89 | -1.19 % | ||
| S3 | 35.70 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.60 | 3.52 % | |
| R2 | 36.80 | 1.32 % | ||
| R1 | 36.51 | 0.523 % | ||
| Current price | 36.32 | |||
| Support | S1 | 36.28 | -0.110% | |
| S2 | 36.23 | -0.248% | ||
| S3 | 36.20 | -0.330% |
PNM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Apr 25, 2024 | May 10, 2024 | $0.388 | 1.07% |
| 2 | Dec 05, 2023 | Feb 01, 2024 | Feb 16, 2024 | $0.388 | 1.03% |
| 3 | Sep 19, 2023 | Oct 26, 2023 | Nov 10, 2023 | $0.368 | 0.87% |
| 4 | Aug 01, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.368 | 0.84% |
| 5 | Feb 28, 2023 | Apr 27, 2023 | May 12, 2023 | $0.368 | 0.771% |
FAQ
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