Constellation Energy Corporation Stock Forecast
Constellation Energy Corporation stock upgraded to Strong Buy Candidate.
(Updated on Jun 25, 2024)
The Constellation Energy Corporation stock price gained 2.90% on the last trading day (Tuesday, 25th Jun 2024), rising from $216.10 to $222.37. During the last trading day the stock fluctuated 3.87% from a day low at $214.18 to a day high of $222.46. The price has been going up and down for this period, and there has been a 3.61% gain for the last 2 weeks. Volume fell on the last day by -242 thousand shares and in total, 2 million shares were bought and sold for approximately $494.05 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 middle of a wide and 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 21.13% during the next 3 months and, with a 90% probability hold a price between $249.00 and $295.96 at the end of this 3-month period.
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CEG Signals & Forecast
Mostly positive signals in the chart today. The Constellation Energy 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 $218.03 and $215.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 12.31%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Constellation Energy Corporation stock
Constellation Energy Corporation finds support from accumulated volume at $218.13 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 $8.28 between high and low, or 3.87%. For the last week, the stock has had daily average volatility of 3.98%.
Our recommended stop-loss: $211.31 (-4.97%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (CEG) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Constellation Energy Corporation to open at $219.67, and during the day (based on 14 day Average True Range), to move between $213.34 and $231.40, which gives a possible trading interval of +/-$9.03 (+/-4.06%) up or down from last closing price. If Constellation Energy Corporation takes out the full calculated possible swing range there will be an estimated 8.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $223.31 (0.42%) than the support at $218.13 (1.91%), 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 Constellation Energy Corporation stock A Buy?
Constellation Energy Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.252 Strong Buy Candidate Upgraded
Predicted Opening Price for Constellation Energy Corporation of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$219.67 ( 1.21%) | $222.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEG
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 227.95 | 2.51% |
R2 | 224.79 | 1.09% |
R1 | 222.83 | 0.208% |
Price | 222.37 | |
S1 | 216.51 | -2.64% |
S2 | 214.55 | -3.52% |
S3 | 211.39 | -4.94% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 231.27 | 4.00% |
R2 | 230.63 | 3.71% |
R1 | 223.31 | 0.423% |
Price | 222.37 | |
S1 | 218.13 | -1.91% |
S2 | 217.25 | -2.30% |
S3 | 185.40 | -16.63% |
CEG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 30, 2024 | May 29, 2024 | Jun 10, 2024 | $0.353 | 0.164% |
2 | Apr 30, 2024 | May 28, 2024 | Jun 10, 2024 | $0.353 | 0.164% |
3 | Feb 26, 2024 | Mar 07, 2024 | Mar 19, 2024 | $0.353 | 0.204% |
4 | Nov 02, 2023 | Nov 17, 2023 | Dec 08, 2023 | $0.282 | 0.254% |
5 | Nov 02, 2023 | Nov 16, 2023 | Dec 08, 2023 | $0.280 | 0.252% |
FAQ
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