• Genie Energy (GNE) shows strong technical momentum, hitting new highs and maintaining a 100% technical “Buy” signal.
• Shares are up 66% in the past year and more than 70% in the past three months.
• Genie is projected to grow both earnings and revenue next year.
• Analyst coverage is limited on this largely undiscovered stock. 

Today’s Featured Stock:

Valued at $655 million, Genie Energy (GNE) is engaged in supplying electricity and natural gas in New York, Pennsylvania, and New Jersey. The company also has oil shale projects in Colorado and Israel and provides alternative fuels for transportation purposes.  

What I’m Watching:

I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. GNE checks those boxes. Since the Trend Seeker signaled a buy on March 24, the stock has gained 55.65%.

GNE Price vs. Daily Moving Averages:

Barchart Technical Indicators for Genie Energy:

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Genie Energy shares hit a new 52-week high on June 12, touching $24.47 in intraday trading. Shares recently closed just 0.2% below the new high.

• Genie Energy has a 100% technical “Buy” signal.
• The stock recently traded at $24.16, above its 50-day moving average of $21.35.
• GNE has a Weighted Alpha of +91.95.
• The stock has gained 65.7% over the past year.
• GNE has its Trend Seeker “Buy” signal intact.
• Genie is trading above its 20, 50 and 100-day moving averages.
• The stock has made 16 new highs and gained 47.3% in the last month.
• Relative Strength Index is at 83.32%.
• The technical support level is $23.72.

Follow the Fundamentals:

• $655 million market cap.
• 1.25% dividend yield
• Wall Street analysts have not discovered this stock yet, but experts that have predict that revenue will grow 6.96% and earnings will also increase 16.70% next year

Analyst and Investor Sentiment on Genie Energy:

I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.

It looks like not only Wall Street analysts, but also many of the popular investing advisory services, are not following this stock yet.

• Value Line gives the stock its lowest rating.
• CFRA’s MarketScope rates the stock a “Strong Buy.”
• MorningStar thinks the stock is 5% undervalued.
• 2,980 investors monitor the stock on Seeking Alpha, which rates it a “Hold.”

The Bottom Line:

Today’s Chart of the Day highlights Genie Energy’s exceptional price appreciation but is not a buy recommendation — investors should align trades with their risk tolerance and diversification plans.

Despite positive technicals, GNE stock is volatile and speculative. Strict risk management and stop-loss strategies are essential for potential investors.

Today’s Chart of the Day was written by Jim Van Meerten. Read previous editions of the daily newsletter here. 

Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.