Clearway Energy Inc Stock Forecast
A very red day for Clearway Energy Inc stock price after a -5.23% fall in the Friday trading session
(Updated on Jun 28, 2024)
The Clearway Energy Inc stock price fell by -5.23% on the last day (Friday, 28th Jun 2024) from $23.91 to $22.66. During the last trading day the stock fluctuated 6.55% from a day low at $22.54 to a day high of $24.01. The price has fallen in 6 of the last 10 days and is down by -6.83% for this period. Volume has increased on the last day by 247 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, 414 thousand shares were bought and sold for approximately $9.39 million.
Given the current short-term trend, the stock is expected to rise 15.87% during the next 3 months and, with a 90% probability hold a price between $26.26 and $31.35 at the end of this 3-month period.
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CWEN-A Signals & Forecast
There are few to no technical positive signals at the moment. The Clearway Energy Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.56 and $24.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -13.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Clearway Energy Inc stock
Clearway Energy Inc finds support from accumulated volume at $21.98 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 $1.48 between high and low, or 6.55%. For the last week, the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CWEN-A) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Clearway Energy Inc to open at $23.07, and during the day (based on 14 day Average True Range), to move between $22.04 and $23.28, which gives a possible trading interval of +/-$0.619 (+/-2.73%) up or down from last closing price. If Clearway Energy Inc takes out the full calculated possible swing range there will be an estimated 5.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.98 (3.00%) than the resistance at $23.75 (4.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Clearway Energy Inc stock A Buy?
The Clearway Energy Inc stock holds several negative signals and despite the positive trend, we believe Clearway Energy Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.817 Sell Candidate Unchanged
Predicted Opening Price for Clearway Energy Inc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $23.07 ( 1.80%) | $22.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWEN-A
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.54 | 8.31% |
| R2 | 23.98 | 5.82% |
| R1 | 23.63 | 4.29% |
| Price | 22.66 | |
| S1 | 22.50 | -0.685% |
| S2 | 22.16 | -2.22% |
| S3 | 21.59 | -4.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.10 | 15.18% |
| R2 | 24.25 | 7.02% |
| R1 | 23.75 | 4.81% |
| Price | 22.66 | |
| S1 | 21.98 | -3.00% |
| S2 | 21.71 | -4.19% |
| S3 | 21.63 | -4.55% |
CWEN-A Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 17, 2024 | $0.410 | 1.73% |
| 2 | Feb 14, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.403 | 2.04% |
| 3 | Nov 01, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.396 | 1.59% |
| 4 | Aug 07, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.389 | 1.63% |
| 5 | May 05, 2023 | May 31, 2023 | Jun 15, 2023 | $0.382 | 1.32% |
FAQ
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