Chesapeake Granite Wash Trust Stock Forecast
Chesapeake Granite Wash Trust stock upgraded to Sell Candidate.
(Updated on Apr 15, 2024)
The Chesapeake Granite Wash Trust stock price fell by -2.65% on the last day (Monday, 15th Apr 2024) from $0.586 to $0.570. During the last trading day the stock fluctuated 7.02% from a day low at $0.570 to a day high of $0.610. The price has been going up and down for this period, and there has been a -3.63% loss for the last 2 weeks. Volume has increased on the last day by 39 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, 56 thousand shares were bought and sold for approximately $31.79 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.24% during the next 3 months and, with a 90% probability hold a price between $0.407 and $0.508 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
CHKR Signals & Forecast
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. The Chesapeake Granite Wash Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.611 and $0.601. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -9.52%. Further fall is indicated until a new bottom pivot has been found. Chesapeake Granite Wash Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chesapeake Granite Wash Trust stock
Chesapeake Granite Wash Trust finds support from accumulated volume at $0.559 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 $0.0400 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 7.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHKR) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Chesapeake Granite Wash Trust to open at $0.583, and during the day (based on 14 day Average True Range), to move between $0.529 and $0.611, which gives a possible trading interval of +/-$0.0414 (+/-7.27%) up or down from last closing price. If Chesapeake Granite Wash Trust takes out the full calculated possible swing range there will be an estimated 14.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.580 (1.75%) than the support at $0.559 (2.00%), 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 Chesapeake Granite Wash Trust stock A Buy?
Chesapeake Granite Wash Trust holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.881 Sell Candidate Upgraded
Predicted Opening Price for Chesapeake Granite Wash Trust of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $0.583 ( 2.34%) | $0.570 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHKR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.623 | 9.36 % | |
| R2 | 0.608 | 6.68 % | ||
| R1 | 0.599 | 5.02 % | ||
| Current price: | 0.570 | |||
| Support | S1 | 0.568 | -0.342 % | |
| S2 | 0.559 | -2.00 % | ||
| S3 | 0.543 | -4.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.650 | 14.04 % | |
| R2 | 0.630 | 10.53 % | ||
| R1 | 0.580 | 1.75 % | ||
| Current price | 0.570 | |||
| Support | S1 | 0.559 | -2.00% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CHKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0214 | 3.29% |
| 2 | Nov 06, 2023 | Nov 17, 2023 | Nov 30, 2023 | $0.0336 | 4.49% |
| 3 | Aug 18, 2023 | Aug 18, 2023 | Aug 31, 2023 | $0.0178 | 1.62% |
| 4 | May 08, 2023 | May 19, 2023 | Jun 01, 2023 | $0.0490 | 4.22% |
| 5 | Feb 06, 2023 | Feb 16, 2023 | Mar 01, 2023 | $0.0760 | 6.23% |
FAQ
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