Surge Energy Inc. Stock Forecast
Red day on Friday for Surge Energy Inc.
(Updated on Apr 19, 2024)
The Surge Energy Inc. stock price fell by -1.18% on the last day (Friday, 19th Apr 2024) from $7.64 to $7.55. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.19% from a day low at $7.54 to a day high of $7.71. The price has fallen in 8 of the last 10 days and is down by -6.67% for this period. Volume has increased on the last day by 131 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, 394 thousand shares were bought and sold for approximately $2.98 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 29.42% during the next 3 months and, with a 90% probability hold a price between $9.42 and $10.87 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SGY.TO Signals & Forecast
A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -6.67%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Surge Energy Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.75. On a fall, the stock will find some support from the long-term average at approximately $7.41. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Surge Energy Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.92 and $6.56. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Surge Energy Inc. finds support just below today's level at $6.92. If this is broken, then the next support from accumulated volume will be at $6.56 and $6.45.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.165 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: $7.21 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (SGY.TO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Surge Energy Inc. to open at $7.60, and during the day (based on 14 day Average True Range), to move between $7.35 and $7.75, which gives a possible trading interval of +/-$0.195 (+/-2.59%) up or down from last closing price. If Surge Energy Inc. takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.93 (5.03%) than the support at $6.92 (8.34%), 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 Surge Energy Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.313 Buy Candidate Unchanged
Predicted Opening Price for Surge Energy Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $7.60 ( 0.640%) | $7.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.76 | 2.83 % | |
| R2 | 7.70 | 1.99 % | ||
| R1 | 7.66 | 1.48 % | ||
| Current price: | 7.55 | |||
| Support | S1 | 7.54 | -0.195 % | |
| S2 | 7.50 | -0.710 % | ||
| S3 | 7.43 | -1.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.99 | 5.83 % | |
| R2 | 7.94 | 5.17 % | ||
| R1 | 7.93 | 5.03 % | ||
| Current price | 7.55 | |||
| Support | S1 | 6.92 | -8.34% | |
| S2 | 6.56 | -13.11% | ||
| S3 | 6.45 | -14.57% |
SGY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.0400 | 0.530% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0400 | 0.522% |
| 3 | Feb 15, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0400 | 0.581% |
| 4 | Jan 30, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.0400 | 0.593% |
| 5 | Dec 15, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.0400 | 0.619% |
FAQ
Click here for our free guide on how to buy Surge Energy Inc. Stock.
