AQN Price Prediction Next Week
Analysis and Insights
To predict the stock price of Algonquin Power & Utilities Corp. (AQN) for the next trading week, we analyze both technical indicators and recent news sentiment.
Technical Analysis:
AQN is currently trading at $5.15, near its 20-day moving average of $5.12. The stock has shown a slight upward trend but lacks strong momentum. Key technical indicators include:
- RSI (14): 65.88, indicating the stock is in a neutral zone, not overbought or oversold.
- MACD: A small positive signal line suggests mild upward momentum.
- Bollinger Bands: The stock is near the upper band, signaling potential resistance.
News Sentiment and Analyst Ratings:
Recent analyst ratings show a mix of Hold and Buy recommendations, with price targets ranging from $5.00 to $5.70. CIBC and Scotiabank have a Hold rating, while BMO Capital maintains a Buy rating.
Fibonacci Levels:
- Resistance Levels: $5.28 (R1), $5.49 (R2)
- Support Levels: $4.74 (S1), $4.61 (S2)
The stock is approaching the first resistance level, which may act as a ceiling.
Conclusion:
Based on the analysis, AQN is expected to face resistance at $5.28. Without significant positive news, the stock may consolidate or slightly decline. The recommendation is to sell AQN with a target price of $4.90.
AQN Similar Chart Price Prediction
The price of AQN is predicted to go up 6.35%, based on the high correlation periods with RS. The similarity of these two price pattern on the periods is 95.91%.
AQN
RS
Up: 6.35%Similarity: 95.91%
AQN Revenue Forecast
AQN EPS Forecast
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AQN Analyst's Forecast
Richard Sunderland
JP Morgan
Hold
2024-12-12
Price Target
$7
Upside
+54.87%
JPMorgan analyst Richard Sunderland reinstated coverage of Algonquin Power with a Neutral rating and $7 price target following a period of restriction. The company has taken steps to reposition around an effectively pure-play regulated utility model, including announcing the sale of its non-hydro renewables business, the analyst tells investors in a research note. The firm says that while Algonquin "looks cheap" at its current double-digit discount to regulated electric peers on 2027 estimated earnings, the execution risk associated with its large rate cases screens as above average, and earnings remain depressed in the near term.
Neil Kalton
Wells Fargo
Hold
2024-10-16
Price Target
$6 → $5.5
Upside
+6.49%
Mark Jarvi
CIBC
Hold
2024-10-08
Price Target
$6 → $5.75
Upside
+11.65%
