Southwest Gas Corporation Stock Forecast
Green day on Tuesday for Southwest Gas Corporation stock after gaining 0.404%
(Updated on Apr 23, 2024)
The Southwest Gas Corporation stock price gained 0.404% on the last trading day (Tuesday, 23rd Apr 2024), rising from $74.25 to $74.55. 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 1.31% from a day low at $74.09 to a day high of $75.06. The price has been going up and down for this period, and there has been a -0.8% loss for the last 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 315 thousand shares were bought and sold for approximately $23.47 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 lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $73.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.91% during the next 3 months and, with a 90% probability hold a price between $97.68 and $107.63 at the end of this 3-month period.
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SWX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -2.08%. 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). The Southwest Gas 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 $73.51 and $73.33. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Southwest Gas Corporation stock
Southwest Gas Corporation finds support from accumulated volume at $73.03 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 $0.97 between high and low, or 1.31%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $71.67 (-3.87%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (SWX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Southwest Gas Corporation to open at $74.57, and during the day (based on 14 day Average True Range), to move between $73.01 and $76.09, which gives a possible trading interval of +/-$1.54 (+/-2.06%) up or down from last closing price. If Southwest Gas Corporation takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $74.95 (0.54%) than the support at $73.03 (2.04%), 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 Southwest Gas Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Southwest Gas Corporation stock to perform well in the short-term.
Current score: 3.713 Buy Candidate Unchanged
Predicted Opening Price for Southwest Gas Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $74.57 ( 0.0224%) | $74.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SWX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.54 | 1.32 % | |
| R2 | 75.17 | 0.83 % | ||
| R1 | 74.94 | 0.519 % | ||
| Current price: | 74.55 | |||
| Support | S1 | 74.20 | -0.475 % | |
| S2 | 73.97 | -0.782 % | ||
| S3 | 73.60 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.13 | 2.12 % | |
| R2 | 75.15 | 0.80 % | ||
| R1 | 74.95 | 0.537 % | ||
| Current price | 74.55 | |||
| Support | S1 | 73.03 | -2.04% | |
| S2 | 71.06 | -4.68% | ||
| S3 | 60.03 | -19.48% |
SWX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | May 14, 2024 | Jun 03, 2024 | $0.620 | 0.83% |
| 2 | Nov 15, 2023 | Feb 14, 2024 | Mar 01, 2024 | $0.620 | 0.89% |
| 3 | Sep 20, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.620 | 1.03% |
| 4 | May 03, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.620 | 1.00% |
| 5 | Feb 23, 2023 | May 12, 2023 | Sep 01, 2023 | $0.620 | 1.00% |
FAQ
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