Clearway Energy Inc. Class C Stock Forecast
Clearway Energy Inc. Class C stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Mar 31, 2023)
The Clearway Energy Inc. Class C stock price gained 1.29% on the last trading day (Friday, 31st Mar 2023), rising from $30.93 to $31.33. During the last trading day the stock fluctuated 1.73% from a day low at $30.87 to a day high of $31.40. The price has risen in 6 of the last 10 days and is up by 3.74% 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, 492 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $44.35 million.
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The stockhas broken the 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 $31.12, a level that may pose a second chance to hit a runner. According to fan-theory $33.46 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
CWEN Signals & Forecast
Mostly positive signals in the chart today. The Clearway Energy Inc. Class C stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $30.61 and $31.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 23, 2023, and so far it has risen 7.40%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Clearway Energy Inc. Class C stock
Clearway Energy Inc. Class C finds support from accumulated volume at $31.20 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 $0.535 (1.73%) between high and low. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $30.15 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (CWEN) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Clearway Energy Inc. Class C to open at $31.20, and during the day (based on 14 day Average True Range), to move between $30.52 and $32.14, which gives a possible trading interval of +/-$0.81 (+/-2.60%) up or down from last closing price. If Clearway Energy Inc. Class C takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.20 (0.41%) than the resistance at $32.03 (2.23%), 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. Class C stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.594 Open Broker Account
Buy Candidate UpgradedPredicted Opening Price for Clearway Energy Inc. Class C of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $31.20 | $31.33 (Overvalued) |
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Trading levels for CWEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.73 | 1.29 % | |
| R2 | 31.53 | 0.635 % | ||
| R1 | 31.40 | 0.232 % | ||
| Current price: | 31.33 | |||
| Support | S1 | 30.99 | -1.07 % | |
| S2 | 30.87 | -1.48 % | ||
| S3 | 30.66 | -2.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.26 | 6.16 % | |
| R2 | 32.77 | 4.60 % | ||
| R1 | 32.03 | 2.23 % | ||
| Current price | 31.33 | |||
| Support | S1 | 31.20 | -0.415% | |
| S2 | 30.97 | -1.15% | ||
| S3 | 30.20 | -3.61% |
FAQ
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About Clearway Energy Inc. Class C
Clearway Energy, Inc. operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities. The company was formerly known as NRG Yield, Inc. and changed its name to Clearway Energy, Inc. in August 2018. Clearway Energy, Inc. was incorporated in 2012 and is based in Princeton, New Jersey. Cl... CWEN Profile
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