Xcel Energy Inc Stock Forecast
Xcel Energy Inc stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)
The Xcel Energy Inc stock price gained 0.439% on the last trading day (Monday, 22nd Apr 2024), rising from $54.72 to $54.96. It has now gained 4 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 1.34% from a day low at $54.47 to a day high of $55.20. The price has risen in 5 of the last 10 days and is up by 1.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 285 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $211.80 million.
Given the current short-term trend, the stock is expected to fall -12.58% during the next 3 months and, with a 90% probability hold a price between $38.78 and $48.05 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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XEL Signals & Forecast
The Xcel Energy Inc 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 $53.64 and $52.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 13.46%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
Support, Risk & Stop-loss for Xcel Energy Inc stock
Xcel Energy Inc finds support from accumulated volume at $52.69 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 $0.730 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.73%.
Our recommended stop-loss: $52.85 (-3.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (XEL) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Xcel Energy Inc to open at $54.88, and during the day (based on 14 day Average True Range), to move between $53.90 and $56.02, which gives a possible trading interval of +/-$1.06 (+/-1.92%) up or down from last closing price. If Xcel Energy Inc takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $52.69 (4.13%) than the resistance at $57.67 (4.93%), 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
Xcel Energy Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.83. We will update the financials statements for Xcel Energy Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.15% in the first trading day after earnings release.
Is Xcel Energy Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.893 Buy Candidate Upgraded
Predicted Opening Price for Xcel Energy Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $54.88 ( 0.152%) | $54.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XEL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.61 | 1.18 % | |
| R2 | 55.33 | 0.669 % | ||
| R1 | 55.16 | 0.356 % | ||
| Current price: | 54.96 | |||
| Support | S1 | 54.60 | -0.659 % | |
| S2 | 54.43 | -0.97 % | ||
| S3 | 54.15 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.87 | 8.93 % | |
| R2 | 58.28 | 6.04 % | ||
| R1 | 57.67 | 4.93 % | ||
| Current price | 54.96 | |||
| Support | S1 | 52.69 | -4.13% | |
| S2 | 49.57 | -9.81% | ||
| S3 | 48.44 | -11.86% |
XEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Apr 20, 2024 | $0.548 | 1.00% |
| 2 | Dec 13, 2023 | Dec 28, 2023 | Jan 20, 2024 | $0.520 | 0.87% |
| 3 | Dec 13, 2023 | Dec 27, 2023 | Jan 20, 2024 | $0.520 | 0.87% |
| 4 | Aug 23, 2023 | Sep 15, 2023 | Oct 20, 2023 | $0.520 | 0.90% |
| 5 | Aug 23, 2023 | Sep 14, 2023 | Oct 20, 2023 | $0.520 | 0.90% |
FAQ
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