Centerpoint Energy, Inc. Stock Forecast

Centerpoint Energy, Inc. stock downgraded from Strong Buy Candidate to Buy Candidate after Monday trading session.
(Updated on Jun 24, 2024)

0HVF.L 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 $31.00 and $30.20. 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). 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 Friday, June 21, 2024, and so far it has fallen -0.287%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Centerpoint Energy, Inc. stock

Centerpoint Energy, Inc. finds support from accumulated volume at $30.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.240 between high and low, or 0.771%. For the last week the stock has had daily average volatility of 0.708%.

Our recommended stop-loss: $30.07 (-3.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (0HVF.L) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Centerpoint Energy, Inc. to open at $31.24, and during the day (based on 14 day Average True Range), to move between $30.93 and $31.59, which gives a possible trading interval of +/-$0.333 (+/-1.07%) up or down from last closing price. If Centerpoint Energy, Inc. takes out the full calculated possible swing range there will be an estimated 2.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $31.35 (0.29%) than the support at $30.81 (1.44%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.702 Buy Candidate Downgraded

Predicted Opening Price for Centerpoint Energy, Inc. of Tuesday, June 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.