Chart Industries Stock Forecast
Chart Industries stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Chart Industries stock price fell by -1.32% on the last day (Friday, 26th Apr 2024) from $152.00 to $150.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.36% from a day low at $149.75 to a day high of $153.28. The price has fallen in 7 of the last 10 days and is down by -2.79% for this period. Volume has increased on the last day by 15 thousand 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, 680 thousand shares were bought and sold for approximately $102.01 million.
Given the current short-term trend, the stock is expected to rise 30.82% during the next 3 months and, with a 90% probability hold a price between $196.24 and $235.02 at the end of this 3-month period.
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GTLS Signals & Forecast
There are few to no technical positive signals at the moment. The Chart Industries stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $150.67 and $152.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -9.26%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Chart Industries stock
Chart Industries finds support from accumulated volume at $147.68 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.53 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTLS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Chart Industries to open at $151.01, and during the day (based on 14 day Average True Range), to move between $144.86 and $155.14, which gives a possible trading interval of +/-$5.14 (+/-3.42%) up or down from last closing price. If Chart Industries takes out the full calculated possible swing range there will be an estimated 6.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $152.00 (1.33%) than the support at $147.68 (1.55%), 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.
Earnings coming up
Chart Industries will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.88. We will update the financials statements for Chart Industries, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.81% in the first trading day after earnings release.
Is Chart Industries stock A Buy?
The Chart Industries stock holds several negative signals and despite the positive trend, we believe Chart Industries will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.938 Sell Candidate Upgraded
Predicted Opening Price for Chart Industries of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $151.01 ( 0.673%) | $150.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTLS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 154.54 | 3.03 % | |
| R2 | 153.19 | 2.13 % | ||
| R1 | 152.36 | 1.57 % | ||
| Current price: | 150.00 | |||
| Support | S1 | 149.66 | -0.226 % | |
| S2 | 148.83 | -0.781 % | ||
| S3 | 147.48 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 162.44 | 8.29 % | |
| R2 | 159.42 | 6.28 % | ||
| R1 | 152.00 | 1.33 % | ||
| Current price | 150.00 | |||
| Support | S1 | 147.68 | -1.55% | |
| S2 | 120.84 | -19.44% | ||
| S3 | 119.52 | -20.32% |
FAQ
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