CenterPoint Energy Inc Stock Forecast
Green day on Wednesday for CenterPoint Energy Inc stock after gaining 0.618%
(Updated on May 01, 2024)
The CenterPoint Energy Inc stock price gained 0.618% on the last trading day (Wednesday, 1st May 2024), rising from $29.14 to $29.32. During the last trading day the stock fluctuated 1.69% from a day low at $28.97 to a day high of $29.46. The price has risen in 7 of the last 10 days and is up by 5.85% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 5 million shares were bought and sold for approximately $136.20 million. 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 in the upper part of a weak rising 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 $29.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.63% during the next 3 months and, with a 90% probability hold a price between $28.40 and $30.47 at the end of this 3-month period.
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CNP Signals & Forecast
The CenterPoint Energy Inc 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 $29.10 and $28.19. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 25, 2024, and so far it has fallen -0.0682%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for CenterPoint Energy Inc stock
CenterPoint Energy Inc finds support from accumulated volume at $27.89 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 $0.490 (1.69%) between high and low. For the last week, the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: $28.43 (-3.04%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (CNP) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect CenterPoint Energy Inc to open at $29.25, and during the day (based on 14 day Average True Range), to move between $28.80 and $29.84, which gives a possible trading interval of +/-$0.519 (+/-1.77%) up or down from last closing price. If CenterPoint Energy Inc takes out the full calculated possible swing range there will be an estimated 3.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.34 (0.07%) than the support at $27.89 (4.88%), 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 CenterPoint Energy Inc 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 CenterPoint Energy Inc stock to perform well in the short-term.
Current score: 3.231 Buy Candidate Unchanged
Predicted Opening Price for CenterPoint Energy Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $29.25 ( 0.239%) | $29.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.74 | 1.43 % | |
| R2 | 29.55 | 0.794 % | ||
| R1 | 29.44 | 0.400 % | ||
| Current price: | 29.32 | |||
| Support | S1 | 29.06 | -0.88 % | |
| S2 | 28.95 | -1.27 % | ||
| S3 | 28.76 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 29.34 | 0.0682 % | ||
| Current price | 29.32 | |||
| Support | S1 | 27.89 | -4.88% | |
| S2 | 27.87 | -4.95% | ||
| S3 | 27.22 | -7.16% |
CNP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | Jun 13, 2024 | $0.200 | 0.682% |
| 2 | Dec 14, 2023 | Feb 14, 2024 | Mar 14, 2024 | $0.200 | 0.717% |
| 3 | Sep 28, 2023 | Nov 15, 2023 | Dec 14, 2023 | $0.200 | 0.673% |
| 4 | Jul 19, 2023 | Aug 16, 2023 | Sep 14, 2023 | $0.190 | 0.656% |
| 5 | Apr 20, 2023 | May 17, 2023 | Sep 14, 2023 | $0.190 | 0.656% |
FAQ
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