Pinnacle West Capital Corporation Stock Forecast
Pinnacle West Capital Corporation stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Pinnacle West Capital Corporation stock price gained 0.95% on the last trading day (Thursday, 28th Mar 2024), rising from $74.03 to $74.73. During the last trading day the stock fluctuated 1.20% from a day low at $73.90 to a day high of $74.79. The price has risen in 8 of the last 10 days and is up by 5.54% over the past 2 weeks. Volume fell on the last day by -448 thousand shares and in total, 850 thousand shares were bought and sold for approximately $63.52 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current horizontal trend, you can expect Pinnacle West Capital Corporation stock with a 90% probability to be traded between $66.58 and $74.86 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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PNW Signals & Forecast
Mostly positive signals in the chart today. The Pinnacle West Capital 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 $73.14 and $70.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 08, 2024, and so far it has risen 12.56%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, March 05, 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 Tuesday, March 05, 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.
Support, Risk & Stop-loss for Pinnacle West Capital Corporation stock
Pinnacle West Capital Corporation finds support from accumulated volume at $71.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.89 (1.20%) between high and low. For the last week, the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: $72.35 (-3.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (PNW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Pinnacle West Capital Corporation to open at $74.47, and during the day (based on 14 day Average True Range), to move between $73.39 and $76.07, which gives a possible trading interval of +/-$1.34 (+/-1.79%) up or down from last closing price. If Pinnacle West Capital Corporation takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $71.37, some $3.36 (4.50%) from the current price of $74.73, our system finds the risk reward attractive.
Is Pinnacle West Capital Corporation stock A Buy?
Pinnacle West Capital Corporation holds several positive signals and is considered to be a good choice at current levels. We expect the Pinnacle West Capital Corporation stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.847 Strong Buy Candidate Upgraded
Predicted Opening Price for Pinnacle West Capital Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$74.47 ( 0.343%) | $74.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNW
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 75.36 | 0.85 % | |
R2 | 75.02 | 0.393 % | ||
R1 | 74.81 | 0.111 % | ||
Current price: | 74.73 | |||
Support | S1 | 74.13 | -0.798 % | |
S2 | 73.92 | -1.08 % | ||
S3 | 73.58 | -1.53 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 74.73 | |||
Support | S1 | 71.37 | -4.50% | |
S2 | 69.88 | -6.49% | ||
S3 | 68.33 | -8.56% |
PNW Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 13, 2023 | Feb 01, 2024 | Mar 01, 2024 | $0.88 | 1.29% |
2 | Dec 13, 2023 | Jan 31, 2024 | Mar 01, 2024 | $0.88 | 1.29% |
3 | Oct 18, 2023 | Oct 31, 2023 | Dec 01, 2023 | $0.88 | 1.17% |
4 | Jun 21, 2023 | Jul 31, 2023 | Sep 01, 2023 | $0.87 | 1.14% |
5 | Apr 19, 2023 | Apr 28, 2023 | Jun 01, 2023 | $0.87 | 1.14% |
FAQ
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