CenterPoint Energy Inc Stock Forecast
Red day on Friday for CenterPoint Energy Inc
(Updated on Apr 26, 2024)
The CenterPoint Energy Inc stock price fell by -1.67% on the last day (Friday, 26th Apr 2024) from $29.34 to $28.85. During the last trading day the stock fluctuated 1.76% from a day low at $28.84 to a day high of $29.35. The price has risen in 6 of the last 10 days and is up by 5.06% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 3 million shares were bought and sold for approximately $93.42 million.
The stock lies in the middle of a weak 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 2.21% during the next 3 months and, with a 90% probability hold a price between $27.90 and $30.00 at the end of this 3-month period.
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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 $28.75 and $28.12. 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 Thursday, April 25, 2024, and so far it has fallen -1.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.508 (1.76%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: $27.55 (-4.49%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CNP) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect CenterPoint Energy Inc to open at $29.01, and during the day (based on 14 day Average True Range), to move between $28.34 and $29.36, which gives a possible trading interval of +/-$0.506 (+/-1.75%) up or down from last closing price. If CenterPoint Energy Inc takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.07 (0.76%) than the support at $27.89 (3.33%), 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.
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: 0.130 Hold/Accumulate Unchanged
Predicted Opening Price for CenterPoint Energy Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $29.01 ( 0.569%) | $28.85 |
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 | 29.52 | 2.33 % | |
| R2 | 29.33 | 1.66 % | ||
| R1 | 29.21 | 1.24 % | ||
| Current price: | 28.85 | |||
| Support | S1 | 28.82 | -0.103 % | |
| S2 | 28.70 | -0.518 % | ||
| S3 | 28.51 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 29.34 | 1.70 % | ||
| R1 | 29.07 | 0.763 % | ||
| Current price | 28.85 | |||
| Support | S1 | 27.89 | -3.33% | |
| S2 | 27.87 | -3.40% | ||
| S3 | 27.22 | -5.65% |
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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