Crescent point energy Stock Forecast
Red day on Wednesday for Crescent point energy stock after losing 0.351%
(Updated on Apr 17, 2024)
The Crescent point energy stock price fell by -0.351% on the last day (Wednesday, 17th Apr 2024) from $8.54 to $8.51. During the last trading day the stock fluctuated 3.32% from a day low at $8.44 to a day high of $8.72. The price has fallen in 5 of the last 10 days and is down by -3.3% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $50.09 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 44.88% during the next 3 months and, with a 90% probability hold a price between $12.00 and $13.11 at the end of this 3-month period.
CPG Signals & Forecast
The Crescent point energy stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8.68. On a fall, the stock will find some support from the long-term average at approximately $8.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.06%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Crescent point energy stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.51 and $7.12. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Crescent point energy finds support just below today's level at $7.51. If this is broken, then the next support from accumulated volume will be at $7.12 and $6.42.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.280 between high and low, or 3.32%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: $8.17 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (CPG) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Crescent Point Energy Corporation to open at $8.55, and during the day (based on 14 day Average True Range), to move between $8.29 and $8.73, which gives a possible trading interval of +/-$0.219 (+/-2.57%) up or down from last closing price. If Crescent Point Energy Corporation takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.77 (3.06%) than the support at $7.51 (11.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Crescent Point Energy Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Crescent point energy stock to perform well in the short-term.
Current score: 1.634 Buy Candidate Unchanged
Predicted Opening Price for Crescent Point Energy Corporation of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$8.55 ( 0.509%) | $8.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.83 | 3.80 % | |
R2 | 8.73 | 2.54 % | ||
R1 | 8.66 | 1.77 % | ||
Current price: | 8.51 | |||
Support | S1 | 8.45 | -0.748 % | |
S2 | 8.38 | -1.52 % | ||
S3 | 8.27 | -2.78 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.87 | 4.23 % | |
R2 | 8.80 | 3.41 % | ||
R1 | 8.77 | 3.06 % | ||
Current price | 8.51 | |||
Support | S1 | 7.51 | -11.75% | |
S2 | 7.12 | -16.33% | ||
S3 | 6.42 | -24.56% |
CPG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 29, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0860 | 1.05% |
2 | Nov 02, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.0700 | 1.01% |
3 | Nov 14, 2023 | Nov 14, 2023 | Nov 14, 2023 | $0 | 0% |
4 | Jul 26, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.0740 | 0.94% |
5 | Aug 04, 2023 | Aug 04, 2023 | Oct 02, 2023 | $0.0260 | 0.330% |
FAQ
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