Portland General Electric Company Stock Forecast
Portland General Electric Company stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Portland General Electric Company stock price gained 2.54% on the last trading day (Friday, 19th Apr 2024), rising from $41.74 to $42.80. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.54% from a day low at $41.80 to a day high of $42.86. The price has risen in 7 of the last 10 days and is up by 3.51% over the past 2 weeks. Volume fell on the last day by -260 thousand shares and in total, 596 thousand shares were bought and sold for approximately $25.52 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.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $42.73, a level that may pose a second chance to hit a runner. According to fan-theory $44.94 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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POR Signals & Forecast
The Portland General Electric Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $41.17 and $41.21. 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 5.55%. Further rise is indicated until a new top pivot has been found. 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. 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 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 Portland General Electric Company stock
Portland General Electric Company finds support from accumulated volume at $42.09 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 $1.06 between high and low, or 2.54%. For the last week the stock has had daily average volatility of 1.97%.
Our recommended stop-loss: $41.31 (-3.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (POR) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Portland General Electric Company to open at $42.49, and during the day (based on 14 day Average True Range), to move between $42.02 and $43.58, which gives a possible trading interval of +/-$0.782 (+/-1.83%) up or down from last closing price. If Portland General Electric Company takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $42.09, some $0.710 (1.66%) from the current price of $42.80, our system finds the risk reward attractive.
Earnings coming up
Portland General Electric Company will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.97. We will update the financials statements for Portland General Electric Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.47% in the first trading day after earnings release.
Is Portland General Electric Company stock A Buy?
Portland General Electric Company 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.863 Hold/Accumulate Upgraded
Predicted Opening Price for Portland General Electric Company of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $42.49 ( 0.732%) | $42.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.55 | 1.74 % | |
| R2 | 43.14 | 0.798 % | ||
| R1 | 42.89 | 0.214 % | ||
| Current price: | 42.80 | |||
| Support | S1 | 42.08 | -1.68 % | |
| S2 | 41.83 | -2.26 % | ||
| S3 | 41.43 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 42.80 | |||
| Support | S1 | 42.09 | -1.66% | |
| S2 | 39.94 | -6.68% | ||
| S3 | 39.88 | -6.82% |
POR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 09, 2024 | Mar 21, 2024 | Apr 15, 2024 | $0.475 | 1.16% |
| 2 | Oct 20, 2023 | Dec 22, 2023 | Jan 15, 2024 | $0.480 | 1.13% |
| 3 | Jul 21, 2023 | Sep 22, 2023 | Oct 16, 2023 | $0.475 | 1.14% |
| 4 | Apr 21, 2023 | Jun 23, 2023 | Oct 16, 2023 | $0.475 | 1.14% |
| 5 | Feb 10, 2023 | Mar 24, 2023 | Apr 17, 2023 | $0.453 | 0.90% |
FAQ
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