D Price Prediction Next Week
Based on the provided data and technical analysis, here is the price prediction for Dominion Energy (D) for the next trading week:
Technical Analysis
- RSI-14 at 62.80 indicates moderate bullish momentum without being overbought
- MACD (0.48) and MACD histogram (0.18) show positive momentum
- Stock is trading above all major moving averages (5,10,20,60,200,250 day)
- Bollinger Bands show price near upper band with 0.86 bandwidth, suggesting potential for continued upward movement
Price Levels
- Current price: $57.50
- Key resistance levels: $57.17 (Fibonacci R1), $58.02 (Fibonacci R2)
- Support levels: $54.41 (Fibonacci S1), $53.56 (Fibonacci S2)
News Impact
- Positive: Utilities planning substantial capital spending to meet 10-15% higher electricity demand for AI infrastructure
- Negative: Potential transformer supply constraints and tariff impacts could increase costs by 8-9%
Price Target for Next Week
- Base case: $58.20-58.50 (2-3% upside)
- Key drivers:
- Strong technical momentum
- Trading above all major moving averages
- Growing electricity demand fundamentals
- Stochastic RSI showing room for further upside
Trading Recommendation: BUY
- Entry point: Current market price ($57.50)
- Initial target: $58.20
- Stop loss: $56.00 (below recent support)
The stock shows strong technical setup with positive fundamental catalysts from growing electricity demand. The risk-reward ratio appears favorable for a long position with defined stop loss.
D Similar Chart Price Prediction
The price of D is predicted to go up 0.08%, based on the high correlation periods with FSFG. The similarity of these two price pattern on the periods is 93.76%.
D
FSFG
Up: 0.08%Similarity: 93.76%
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D VS S&P500
Dominion Energy operates in high-growth Virginia, which should provide investment opportunities.
Growth capital investments focused on renewable energy, carbon reduction, and electricity demand growth provide significant investment opportunities for Dominion.
Management has completed its strategic review, providing needed clarity for investors.
D Analyst's Forecast
Carly Davenport
Goldman Sachs
Hold
2024-11-08
Price Target
$61
Upside
+5.55%
Goldman Sachs analyst Carly Davenport reinstated coverage of Dominion with a Neutral rating and $61 price target following its completed sales of its gas LDC business. While constructive on the company's "attractive" load growth opportunities around Virginia and potential upside risk to transmission capex estimates as a result, the firm is "mindful of valuation" following the stock's outperformance.
Nicholas Campanella
Barclays
Buy
2024-10-15
Price Target
$54 → $58
Upside
+0.67%
Paul Zimbardo
Jefferies
Hold
2024-09-19
Price Target
$58
Upside
+0.13%
