EC Price Prediction Next Week
Technical Analysis: Based on the recent price action, EC has been trading in a consolidation pattern between $10.17 and $10.54 over the past week.
The stock closed at $10.42 on Friday, showing a positive momentum with increasing volume. Key technical levels:
- Support: $10.17
- Resistance: $10.54
- 5-day moving average: $10.35
News Impact Analysis: Two significant recent developments affecting EC:
- JPMorgan Upgrade:
- Upgraded to Neutral from Underweight on February 13
- Price target: $9.50
- Rationale: Strong capital inflows into Colombia and market performance
- Impact: Positive catalyst supporting current price levels
- Potential Asset Sale:
- Colombian President calls for sale of Ecopetrol's US fracking operations
- Purpose: Reinvest in clean energy within Colombia
- Impact: Creates uncertainty around future business strategy and revenue streams
Price Prediction for Next Week: Based on technical indicators and news sentiment:
- Expected trading range: $10.15 - $10.65
- Most likely scenario (60% probability): Bullish continuation toward $10.65
- Target price: $10.60
Trading Recommendation: BUY
- Entry point: Current price ($10.42)
- Stop loss: $10.15
- Take profit: $10.60
Rationale:
- Positive analyst sentiment with recent upgrade
- Strong technical support at current levels
- Increasing institutional interest in Colombian market
- Healthy trading volume supporting price action
EC Similar Chart Price Prediction
The price of EC is predicted to go up 7.91%, based on the high correlation periods with HRTX. The similarity of these two price pattern on the periods is 98.18%.
EC
HRTX
Up: 7.91%Similarity: 98.18%
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EC Analyst's Forecast
Rodolfo Angele
JP Morgan
Sell → Hold
2025-02-13
Price Target
$7.5 → $9.5
Downside
-7.32%
JPMorgan analyst Rodolfo Angele upgraded Ecopetrol to Neutral from Underweight with a $9.50 price target. Colombia has experienced a de-risking trend, with significant capital inflows making it the best-performing Latin American market in January, rising by 21.2%, the analyst tells investors in a research note. The firm says Ecopetrol should be a key beneficiary of any inflows into Colombia. As such, JPMorgan sees a fair valuation at current share levels.
Rodolfo Angele
JP Morgan
Hold → Sell
2024-09-25
Price Target
$12 → $8.5
Downside
-2.86%
