Championx Corporation Stock Forecast
Green day on Tuesday for Championx Corporation stock after gaining 0.763%
(Updated on Jul 02, 2024)
The Championx Corporation stock price gained 0.763% on the last trading day (Tuesday, 2nd Jul 2024), rising from $32.76 to $33.01. During the last trading day the stock fluctuated 2.12% from a day low at $32.62 to a day high of $33.31. The price has risen in 8 of the last 10 days and is up by 7.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 102 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $41.64 million.
Given the current short-term trend, the stock is expected to fall -16.85% during the next 3 months and, with a 90% probability hold a price between $24.12 and $27.45 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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CHX Signals & Forecast
The Championx Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $33.07. On a fall, the stock will find some support from the long-term average at approximately $32.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 9.34%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Championx Corporation stock
Championx Corporation finds support from accumulated volume at $32.01 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 $0.690 between high and low, or 2.12%. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: $31.75 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (CHX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Championx Corporation to open at $32.98, and during the day (based on 14 day Average True Range), to move between $32.24 and $33.78, which gives a possible trading interval of +/-$0.771 (+/-2.33%) up or down from last closing price. If Championx Corporation takes out the full calculated possible swing range there will be an estimated 4.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.01 (3.03%) than the resistance at $38.75 (17.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Championx Corporation stock A Buy?
Championx Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.844 Hold/Accumulate Unchanged
Predicted Opening Price for Championx Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $32.98 ( 0.0909%) | $33.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.67 | 2.00% |
| R2 | 33.41 | 1.20% |
| R1 | 33.24 | 0.708% |
| Price | 33.01 | |
| S1 | 32.72 | -0.89% |
| S2 | 32.55 | -1.38% |
| S3 | 32.29 | -2.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.34 | 19.18% |
| R2 | 39.00 | 18.15% |
| R1 | 38.75 | 17.39% |
| Price | 33.01 | |
| S1 | 32.01 | -3.03% |
| S2 | 31.94 | -3.24% |
| S3 | 30.19 | -8.54% |
CHX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | Jul 05, 2024 | Jul 26, 2024 | $0.0950 | 0.288% |
| 2 | Apr 04, 2024 | Apr 04, 2024 | Apr 26, 2024 | $0.0950 | 0.273% |
| 3 | Jan 04, 2024 | Jan 04, 2024 | Jan 26, 2024 | $0.0850 | 0.300% |
| 4 | Aug 30, 2023 | Oct 05, 2023 | Oct 27, 2023 | $0.0850 | 0.280% |
| 5 | Aug 06, 2023 | Jul 06, 2023 | Jul 28, 2023 | $0.0850 | 0.245% |
FAQ
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