Chesapeake Utilities Corporation Stock Forecast
Evaluation of Chesapeake Utilities Corporation stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Chesapeake Utilities Corporation stock price fell by -0.674% on the last day (Thursday, 25th Apr 2024) from $106.89 to $106.17. During the last trading day the stock fluctuated 1.37% from a day low at $104.74 to a day high of $106.17. The price has risen in 6 of the last 10 days and is up by 5.41% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -32 thousand shares and in total, 64 thousand shares were bought and sold for approximately $6.76 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Chesapeake Utilities Corporation stock with a 90% probability to be traded between $101.88 and $110.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CPK Signals & Forecast
The Chesapeake Utilities Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $104.65 and $104.05. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 24, 2024, and so far it has fallen -0.674%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -8.02% to $97.66 within 18 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Chesapeake Utilities Corporation stock
Chesapeake Utilities Corporation finds support from accumulated volume at $105.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.43 (1.37%) between high and low. For the last week, the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPK) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Chesapeake Utilities Corporation to open at $105.69, and during the day (based on 14 day Average True Range), to move between $104.13 and $108.21, which gives a possible trading interval of +/-$2.04 (+/-1.92%) up or down from last closing price. If Chesapeake Utilities Corporation takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $106.49 (0.30%) than the support at $105.06 (1.05%), 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 Chesapeake Utilities Corporation stock A Buy?
Chesapeake Utilities Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.265 Sell Candidate Downgraded
Predicted Opening Price for Chesapeake Utilities Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $105.69 ( 0.449%) | $106.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.12 | 0.90 % | |
| R2 | 106.58 | 0.383 % | ||
| R1 | 106.24 | 0.0655 % | ||
| Current price: | 106.17 | |||
| Support | S1 | 105.15 | -0.96 % | |
| S2 | 104.81 | -1.28 % | ||
| S3 | 104.26 | -1.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.30 | 1.06 % | |
| R2 | 106.89 | 0.678 % | ||
| R1 | 106.49 | 0.301 % | ||
| Current price | 106.17 | |||
| Support | S1 | 105.06 | -1.05% | |
| S2 | 103.01 | -2.98% | ||
| S3 | 102.03 | -3.90% |
CPK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 14, 2024 | Apr 05, 2024 | $0.590 | 0.572% |
| 2 | Nov 02, 2023 | Dec 14, 2023 | Jan 05, 2024 | $0.590 | 0.573% |
| 3 | Aug 03, 2023 | Sep 14, 2023 | Oct 05, 2023 | $0.590 | 0.621% |
| 4 | May 03, 2023 | Jun 14, 2023 | Jul 05, 2023 | $0.590 | 0.497% |
| 5 | Feb 22, 2023 | Mar 14, 2023 | Apr 05, 2023 | $0.535 | 0.410% |
FAQ
Click here for our free guide on how to buy Chesapeake Utilities Corporation Stock.
