Chesapeake Utilities Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Chesapeake Utilities Corporation stock price after Friday trading.
(Updated on Apr 26, 2024)
The Chesapeake Utilities Corporation stock price fell by -0.98% on the last day (Friday, 26th Apr 2024) from $106.17 to $105.13. During the last trading day the stock fluctuated 1.30% from a day low at $105.13 to a day high of $106.50. The price has been going up and down for this period, and there has been a 3.01% gain for the last 2 weeks. Volume has increased on the last day by 6 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, 70 thousand shares were bought and sold for approximately $7.32 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 2.00% during the next 3 months and, with a 90% probability hold a price between $101.94 and $110.15 at the end of this 3-month period.
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CPK Signals & Forecast
The Chesapeake Utilities 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 $105.27. On a fall, the stock will find some support from the long-term average at approximately $104.06. 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. 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 Wednesday, April 24, 2024, and so far it has fallen -1.65%. 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.
A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -7.11% to $97.66 within 18 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Chesapeake Utilities Corporation stock
Chesapeake Utilities Corporation finds support from accumulated volume at $105.06 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 $1.37 (1.30%) between high and low. For the last week, the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $101.39 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CPK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Chesapeake Utilities Corporation to open at $105.59, and during the day (based on 14 day Average True Range), to move between $103.14 and $107.12, which gives a possible trading interval of +/-$1.99 (+/-1.90%) up or down from last closing price. If Chesapeake Utilities Corporation takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $105.06 (0.07%) than the resistance at $105.68 (0.52%), 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 Utilities Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Chesapeake Utilities Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.455 Buy Candidate Upgraded
Predicted Opening Price for Chesapeake Utilities Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $105.59 ( 0.434%) | $105.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 106.96 | 1.74 % | |
| R2 | 106.43 | 1.24 % | ||
| R1 | 106.11 | 0.93 % | ||
| Current price: | 105.13 | |||
| Support | S1 | 105.06 | -0.0634 % | |
| S2 | 104.74 | -0.371 % | ||
| S3 | 104.22 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.30 | 2.06 % | |
| R2 | 106.49 | 1.29 % | ||
| R1 | 105.68 | 0.523 % | ||
| Current price | 105.13 | |||
| Support | S1 | 105.06 | -0.0666% | |
| S2 | 103.01 | -2.02% | ||
| S3 | 102.03 | -2.95% |
CPK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 14, 2024 | Apr 05, 2024 | $0.590 | 0.572% |
| 2 | Nov 02, 2023 | Dec 14, 2023 | Jan 05, 2024 | $0.590 | 0.573% |
| 3 | Aug 03, 2023 | Sep 14, 2023 | Oct 05, 2023 | $0.590 | 0.621% |
| 4 | May 03, 2023 | Jun 14, 2023 | Jul 05, 2023 | $0.590 | 0.497% |
| 5 | Feb 22, 2023 | Mar 14, 2023 | Apr 05, 2023 | $0.535 | 0.410% |
FAQ
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