Crescent Energy Company Stock Forecast
Weaker technical forecast for Crescent Energy Company as stock downgraded to Hold/Accumulate.
(Updated on Mar 27, 2024)
The Crescent Energy Company stock price gained 3.25% on the last trading day (Wednesday, 27th Mar 2024), rising from $11.37 to $11.74. During the last trading day the stock fluctuated 3.07% from a day low at $11.39 to a day high of $11.74. The price has risen in 6 of the last 10 days and is up by 6.73% 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, 218 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $16.86 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $11.69, a level that may pose a second chance to hit a runner. According to fan-theory $13.33 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CRGY Signals & Forecast
The Crescent Energy Company 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 $11.46 and $11.11. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, March 05, 2024, and so far it has fallen -1.59%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Crescent Energy Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.87 and $10.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Crescent Energy Company finds support just below today's level at $10.87. If this is broken, then the next support from accumulated volume will be at $10.85 and $10.64.
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 $0.350 between high and low, or 3.07%. For the last week, the stock has had daily average volatility of 2.67%.
The Crescent Energy Company stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $11.32 (-3.55%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (CRGY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Crescent Energy Company to open at $11.62, and during the day (based on 14 day Average True Range), to move between $11.38 and $12.10, which gives a possible trading interval of +/-$0.361 (+/-3.08%) up or down from last closing price. If Crescent Energy Company takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.93 (1.62%) than the support at $10.87 (7.41%), 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.
Is Crescent Energy Company stock A Buy?
Crescent Energy Company 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.820 Hold/Accumulate Downgraded
Predicted Opening Price for Crescent Energy Company of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$11.62 ( 0.99%) | $11.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRGY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.97 | 1.99 % | |
R2 | 11.84 | 0.85 % | ||
R1 | 11.76 | 0.145 % | ||
Current price: | 11.74 | |||
Support | S1 | 11.49 | -2.13 % | |
S2 | 11.41 | -2.84 % | ||
S3 | 11.27 | -3.98 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.11 | 3.15 % | |
R2 | 11.94 | 1.70 % | ||
R1 | 11.93 | 1.62 % | ||
Current price | 11.74 | |||
Support | S1 | 10.87 | -7.41% | |
S2 | 10.85 | -7.58% | ||
S3 | 10.64 | -9.37% |
CRGY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 04, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.120 | 1.02% |
2 | Nov 06, 2023 | Nov 17, 2023 | Dec 04, 2023 | $0.120 | 1.04% |
3 | Aug 09, 2023 | Aug 22, 2023 | Sep 06, 2023 | $0.120 | 0.89% |
4 | May 10, 2023 | May 23, 2023 | Jun 07, 2023 | $0.120 | 1.15% |
5 | Mar 07, 2023 | Mar 17, 2023 | Mar 31, 2023 | $0.170 | 1.50% |
FAQ
Click here for our free guide on how to buy Crescent Energy Company Stock.