Chesapeake Granite Wash Trust Stock Forecast
Chesapeake Granite Wash Trust stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Chesapeake Granite Wash Trust stock price fell by -1.69% on the last day (Friday, 26th Apr 2024) from $0.590 to $0.580. During the last trading day the stock fluctuated 6.25% from a day low at $0.560 to a day high of $0.595. The price has fallen in 5 of the last 10 days and is down by -0.94% for this period. Volume has increased on the last day by 18 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, 27 thousand shares were bought and sold for approximately $15.89 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.86% during the next 3 months and, with a 90% probability hold a price between $0.403 and $0.486 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CHKR Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 3.83%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chesapeake Granite Wash Trust 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 $0.591 and $0.591. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Chesapeake Granite Wash Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chesapeake Granite Wash Trust stock
Chesapeake Granite Wash Trust finds support from accumulated volume at $0.579 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 $0.0350 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 5.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHKR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Chesapeake Granite Wash Trust to open at $0.578, and during the day (based on 14 day Average True Range), to move between $0.542 and $0.618, which gives a possible trading interval of +/-$0.0376 (+/-6.48%) up or down from last closing price. If Chesapeake Granite Wash Trust takes out the full calculated possible swing range there will be an estimated 12.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.579 (0.21%) than the resistance at $0.610 (5.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chesapeake Granite Wash Trust stock A Buy?
Chesapeake Granite Wash Trust holds several negative signals and is within a wide and falling trend, so we believe 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 Hold/Accumulate to a Sell candidate.
Current score: -1.064 Sell Candidate Downgraded
Predicted Opening Price for Chesapeake Granite Wash Trust of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$0.578 ( 0.287%) | $0.580 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHKR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.613 | 5.75 % | |
R2 | 0.600 | 3.44 % | ||
R1 | 0.592 | 2.02 % | ||
Current price: | 0.580 | |||
Support | S1 | 0.565 | -2.59 % | |
S2 | 0.557 | -4.02 % | ||
S3 | 0.543 | -6.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.690 | 18.97 % | |
R2 | 0.630 | 8.62 % | ||
R1 | 0.610 | 5.17 % | ||
Current price | 0.580 | |||
Support | S1 | 0.579 | -0.207% | |
S2 | 0.570 | -1.72% | ||
S3 | 0.565 | -2.59% |
CHKR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0214 | 3.29% |
2 | Nov 06, 2023 | Nov 17, 2023 | Nov 30, 2023 | $0.0336 | 4.49% |
3 | Aug 18, 2023 | Aug 18, 2023 | Aug 31, 2023 | $0.0178 | 1.62% |
4 | May 08, 2023 | May 19, 2023 | Jun 01, 2023 | $0.0490 | 4.22% |
5 | Feb 06, 2023 | Feb 16, 2023 | Mar 01, 2023 | $0.0760 | 6.23% |
FAQ
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