NextEra Energy Stock Forecast
NextEra Energy stock upgraded to Strong Buy Candidate.
(Updated on Apr 23, 2024)
The NextEra Energy stock price gained 1.36% on the last trading day (Tuesday, 23rd Apr 2024), rising from $65.31 to $66.20. It has now gained 5 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 3.18% from a day low at $65.10 to a day high of $67.17. The price has been going up and down for this period, and there has been a 1.25% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately $834.78 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $66.86 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.94% during the next 3 months and, with a 90% probability hold a price between $72.39 and $77.52 at the end of this 3-month period.
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NEE Signals & Forecast
The NextEra Energy 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 $64.01 and $61.82. 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 7.29%. 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 NextEra Energy stock
NextEra Energy finds support from accumulated volume at $64.01 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 $2.07 between high and low, or 3.18%. For the last week the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: $63.78 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (NEE) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect NextEra Energy, Inc to open at $66.16, and during the day (based on 14 day Average True Range), to move between $64.67 and $67.73, which gives a possible trading interval of +/-$1.53 (+/-2.32%) up or down from last closing price. If NextEra Energy, Inc takes out the full calculated possible swing range there will be an estimated 4.63% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $64.01, some $2.19 (3.31%) from the current price of $66.20, our system finds the risk reward attractive.
Is NextEra Energy, Inc stock A Buy?
NextEra Energy holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.338 Strong Buy Candidate Upgraded
Predicted Opening Price for NextEra Energy, Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $66.16 ( 0.0655%) | $66.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.23 | 3.06 % | |
| R2 | 67.44 | 1.87 % | ||
| R1 | 66.95 | 1.13 % | ||
| Current price: | 66.20 | |||
| Support | S1 | 65.37 | -1.26 % | |
| S2 | 64.88 | -2.00 % | ||
| S3 | 64.09 | -3.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 66.20 | |||
| Support | S1 | 64.01 | -3.31% | |
| S2 | 63.79 | -3.64% | ||
| S3 | 59.54 | -10.06% |
NEE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 27, 2024 | Mar 15, 2024 | $0.515 | 0.86% |
| 2 | Feb 16, 2024 | Feb 26, 2024 | Mar 15, 2024 | $0.515 | 0.86% |
| 3 | Oct 12, 2023 | Nov 22, 2023 | Dec 15, 2023 | $0.470 | 0.764% |
| 4 | Jul 27, 2023 | Aug 29, 2023 | Sep 15, 2023 | $0.468 | 0.681% |
| 5 | May 18, 2023 | May 26, 2023 | Jun 15, 2023 | $0.468 | 0.629% |
FAQ
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