Chesapeake Granite Wash Trust Stock Forecast
Chesapeake Granite Wash Trust stock price up more than 6.99% on Friday
(Updated on Apr 19, 2024)
The Chesapeake Granite Wash Trust stock price gained 6.99% on the last trading day (Friday, 19th Apr 2024), rising from $0.565 to $0.605. During the last trading day the stock fluctuated 7.04% from a day low at $0.565 to a day high of $0.605. The price has been going up and down for this period, and there has been a 0.33% gain for the last 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 7 thousand shares were bought and sold for approximately $4.04 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling 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 $0.615 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.67% during the next 3 months and, with a 90% probability hold a price between $0.406 and $0.487 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CHKR Signals & Forecast
The Chesapeake Granite Wash Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.586 and $0.592. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 8.22%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chesapeake Granite Wash Trust stock
Chesapeake Granite Wash Trust finds support from accumulated volume at $0.582 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0398 between high and low, or 7.04%. For the last week the stock has had daily average volatility of 5.62%.
Our recommended stop-loss: $0.574 (-5.09%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (CHKR) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Chesapeake Granite Wash Trust to open at $0.591, and during the day (based on 14 day Average True Range), to move between $0.566 and $0.643, which gives a possible trading interval of +/-$0.0385 (+/-6.36%) up or down from last closing price. If Chesapeake Granite Wash Trust takes out the full calculated possible swing range there will be an estimated 12.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.582 (3.72%) than the resistance at $0.630 (4.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chesapeake Granite Wash Trust stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.525 Buy Candidate Upgraded
Predicted Opening Price for Chesapeake Granite Wash Trust of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.591 ( 2.16%) | $0.605 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHKR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.631 | 4.42 % | |
| R2 | 0.616 | 1.91 % | ||
| R1 | 0.607 | 0.354 % | ||
| Current price: | 0.605 | |||
| Support | S1 | 0.576 | -4.68 % | |
| S2 | 0.567 | -6.23 % | ||
| S3 | 0.552 | -8.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.690 | 14.14 % | |
| R2 | 0.650 | 7.53 % | ||
| R1 | 0.630 | 4.22 % | ||
| Current price | 0.605 | |||
| Support | S1 | 0.582 | -3.72% | |
| S2 | 0.580 | -4.05% | ||
| S3 | 0.570 | -5.71% |
CHKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0214 | 3.29% |
| 2 | Nov 06, 2023 | Nov 17, 2023 | Nov 30, 2023 | $0.0336 | 4.49% |
| 3 | Aug 18, 2023 | Aug 18, 2023 | Aug 31, 2023 | $0.0178 | 1.62% |
| 4 | May 08, 2023 | May 19, 2023 | Jun 01, 2023 | $0.0490 | 4.22% |
| 5 | Feb 06, 2023 | Feb 16, 2023 | Mar 01, 2023 | $0.0760 | 6.23% |
FAQ
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