CPFL Energia S.A. Stock Forecast
CPFL Energia S.A. stock downgraded to Sell Candidate
(Updated on May 20, 2024)
The CPFL Energia S.A. stock price fell by -0.322% on the last day (Monday, 20th May 2024) from R$34.21 to R$34.10. During the last trading day the stock fluctuated 1.53% from a day low at R$34.01 to a day high of R$34.53. The price has risen in 7 of the last 10 days and is up by 4% over the past 2 weeks. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately R$73.47 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at R$34.18 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.94% during the next 3 months and, with a 90% probability hold a price between R$29.94 and R$32.49 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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CPFE3.SA Signals & Forecast
There are mixed signals in the stock today. The CPFL Energia S.A. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at R$34.21. On a fall, the stock will find some support from the short-term average at R$33.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -0.322%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CPFL Energia S.A. stock
CPFL Energia S.A. finds support from accumulated volume at R$33.38 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 R$0.520 between high and low, or 1.53%. For the last week, the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPFE3.SA) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect CPFL Energia S.A. to open at R$34.21, and during the day (based on 14 day Average True Range), to move between R$33.37 and R$34.83, which gives a possible trading interval of +/-R$0.728 (+/-2.14%) up or down from last closing price. If CPFL Energia S.A. takes out the full calculated possible swing range there will be an estimated 4.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$33.38 (2.11%) than the resistance at R$34.90 (2.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CPFL Energia S.A. stock A Buy?
CPFL Energia S.A. holds several negative signals and we believe that 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: -3.391 Sell Candidate Downgraded
Predicted Opening Price for CPFL Energia S.A. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| R$34.21 ( 0.332%) | R$34.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPFE3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.73 | 1.86 % | |
| R2 | 34.53 | 1.27 % | ||
| R1 | 34.41 | 0.91 % | ||
| Current price: | 34.10 | |||
| Support | S1 | 34.01 | -0.250 % | |
| S2 | 33.89 | -0.610 % | ||
| S3 | 33.69 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.15 | 3.08 % | |
| R2 | 34.93 | 2.43 % | ||
| R1 | 34.90 | 2.35 % | ||
| Current price | 34.10 | |||
| Support | S1 | 33.38 | -2.11% | |
| S2 | 33.08 | -2.99% | ||
| S3 | 32.31 | -5.25% |
CPFE3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | Dec 01, 2024 | R$2.75 | 8.08% |
| 2 | Aug 18, 2023 | Aug 18, 2023 | Aug 18, 2023 | R$0.783 | 2.47% |
| 3 | May 02, 2023 | May 02, 2023 | May 02, 2023 | R$2.10 | 7.45% |
| 4 | May 02, 2022 | May 02, 2022 | May 02, 2022 | R$3.24 | 11.90% |
| 5 | Dec 10, 2021 | Dec 10, 2021 | Dec 10, 2021 | R$0.698 | 3.41% |
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