CenterPoint Energy Inc Stock Forecast
CenterPoint Energy Inc stock price ended at $29.34 on Thursday, after gaining 0.93%.
(Updated on Apr 25, 2024)
The CenterPoint Energy Inc stock price gained 0.93% on the last trading day (Thursday, 25th Apr 2024), rising from $29.07 to $29.34. During the last trading day the stock fluctuated 1.96% from a day low at $28.86 to a day high of $29.43. The price has risen in 6 of the last 10 days and is up by 6.38% 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, 1 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $160.81 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $28.93, a level that may pose a second chance to hit a runner. According to fan-theory $30.57 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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 $28.59 and $28.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.79%. 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.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 with a target of $27.96. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.565 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $28.26 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (CNP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect CenterPoint Energy Inc to open at $29.21, and during the day (based on 14 day Average True Range), to move between $28.83 and $29.85, which gives a possible trading interval of +/-$0.506 (+/-1.72%) up or down from last closing price. If CenterPoint Energy Inc takes out the full calculated possible swing range there will be an estimated 3.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $27.89, some $1.45 (4.94%) from the current price of $29.34, our system finds the risk reward attractive.
Earnings coming up
CenterPoint Energy Inc will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.510. We will update the financials statements for CenterPoint Energy Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.00% in the first trading day after earnings release.
Is CenterPoint Energy Inc stock A Buy?
CenterPoint Energy Inc 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CenterPoint Energy Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $29.21 ( 0.449%) | $29.34 |
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 | 29.77 | 1.48 % | |
| R2 | 29.56 | 0.741 % | ||
| R1 | 29.42 | 0.287 % | ||
| Current price: | 29.34 | |||
| Support | S1 | 28.99 | -1.18 % | |
| S2 | 28.86 | -1.64 % | ||
| S3 | 28.64 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 29.34 | |||
| Support | S1 | 27.89 | -4.94% | |
| S2 | 27.87 | -5.01% | ||
| S3 | 27.22 | -7.23% |
CNP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 14, 2023 | Feb 14, 2024 | Mar 14, 2024 | $0.200 | 0.717% |
| 2 | Sep 28, 2023 | Nov 15, 2023 | Dec 14, 2023 | $0.200 | 0.673% |
| 3 | Jul 19, 2023 | Aug 16, 2023 | Sep 14, 2023 | $0.190 | 0.656% |
| 4 | Apr 20, 2023 | May 17, 2023 | Sep 14, 2023 | $0.190 | 0.656% |
| 5 | Dec 15, 2022 | Feb 15, 2023 | Mar 09, 2023 | $0.190 | 0.681% |
FAQ
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