California Water Service Group Holding Stock Forecast
California Water Service Group Holding stock price ended at $49.83 on Wednesday, after gaining 1.45%.
(Updated on May 01, 2024)
The California Water Service Group Holding stock price gained 1.45% on the last trading day (Wednesday, 1st May 2024), rising from $49.12 to $49.83. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.28% from a day low at $49.24 to a day high of $50.36. The price has risen in 8 of the last 10 days and is up by 12.81% over the past 2 weeks. Volume fell on the last day by -326 thousand shares and in total, 135 thousand shares were bought and sold for approximately $6.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $47.94 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $52.10 sometime during the next 3 months.
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CWT Signals & Forecast
The California Water Service Group Holding 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 $48.02 and $46.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.85%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Tuesday, March 26, 2024 with a target of $48.23. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for California Water Service Group Holding stock
On the downside, the stock finds support just below today's level from accumulated volume at $46.57 and $46.23. 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, California Water Service Group Holding finds support just below today's level at $46.57. If this is broken, then the next support from accumulated volume will be at $46.23 and $45.92.
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 $1.13 between high and low, or 2.28%. For the last week, the stock has had daily average volatility of 2.87%.
The California Water Service Group Holding 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: $48.37 (-2.92%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (CWT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect California Water Service Group Holding to open at $49.81, and during the day (based on 14 day Average True Range), to move between $48.68 and $50.98, which gives a possible trading interval of +/-$1.15 (+/-2.30%) up or down from last closing price. If California Water Service Group Holding takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $46.57, some $3.26 (6.54%) from the current price of $49.83, our system finds the risk reward attractive.
Is California Water Service Group Holding stock A Buy?
California Water Service Group Holding 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for California Water Service Group Holding of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $49.81 ( 0.0435%) | $49.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.93 | 2.21 % | |
| R2 | 50.50 | 1.35 % | ||
| R1 | 50.24 | 0.82 % | ||
| Current price: | 49.83 | |||
| Support | S1 | 49.38 | -0.91 % | |
| S2 | 49.11 | -1.44 % | ||
| S3 | 48.68 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 49.83 | |||
| Support | S1 | 46.57 | -6.54% | |
| S2 | 46.23 | -7.22% | ||
| S3 | 45.92 | -7.85% |
CWT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 03, 2024 | May 03, 2024 | May 17, 2024 | $0.280 | 0.562% |
| 2 | Jan 25, 2024 | Feb 09, 2024 | Feb 23, 2024 | $0.260 | 0.564% |
| 3 | Oct 25, 2023 | Nov 03, 2023 | Nov 17, 2023 | $0.260 | 0.505% |
| 4 | Jul 26, 2023 | Aug 04, 2023 | Aug 18, 2023 | $0.260 | 0.503% |
| 5 | Apr 26, 2023 | May 05, 2023 | May 19, 2023 | $0.260 | 0.476% |
FAQ
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