Civitas Resources, Inc. Stock Forecast
Evaluation of Civitas Resources, Inc. stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Civitas Resources, Inc. stock price fell by -1.40% on the last day (Thursday, 18th Apr 2024) from $72.91 to $71.89. During the last trading day the stock fluctuated 2.46% from a day low at $71.52 to a day high of $73.28. The price has fallen in 6 of the last 10 days and is down by -4.29% for this period. Volume has increased on the last day by 104 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, 1 million shares were bought and sold for approximately $79.95 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $71.82 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 24.12% during the next 3 months and, with a 90% probability hold a price between $89.14 and $96.74 at the end of this 3-month period.
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CIVI Signals & Forecast
There are few to no technical positive signals at the moment. The Civitas Resources, Inc. 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 $74.04 and $72.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -5.99%. 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 Civitas Resources, Inc. stock
Civitas Resources, Inc. finds support from accumulated volume at $70.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.76 between high and low, or 2.46%. For the last week the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CIVI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Civitas Resources, Inc. to open at $72.23, and during the day (based on 14 day Average True Range), to move between $70.14 and $73.64, which gives a possible trading interval of +/-$1.75 (+/-2.43%) up or down from last closing price. If Civitas Resources, Inc. takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $70.81 (1.50%) than the resistance at $75.33 (4.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Civitas Resources, Inc. stock A Buy?
The Civitas Resources, Inc. stock holds several negative signals and despite the positive trend, we believe Civitas Resources, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.758 Sell Candidate Downgraded
Predicted Opening Price for Civitas Resources, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $72.23 ( 0.473%) | $71.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIVI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.99 | 2.92 % | |
| R2 | 73.32 | 1.99 % | ||
| R1 | 72.90 | 1.41 % | ||
| Current price: | 71.89 | |||
| Support | S1 | 71.56 | -0.462 % | |
| S2 | 71.14 | -1.04 % | ||
| S3 | 70.47 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.91 | 5.59 % | |
| R2 | 75.62 | 5.19 % | ||
| R1 | 75.33 | 4.79 % | ||
| Current price | 71.89 | |||
| Support | S1 | 70.81 | -1.50% | |
| S2 | 67.51 | -6.09% | ||
| S3 | 61.74 | -14.12% |
CIVI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 14, 2024 | Mar 28, 2024 | $1.45 | 1.91% |
| 2 | Nov 07, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.500 | 0.731% |
| 3 | Aug 02, 2023 | Sep 14, 2023 | Sep 29, 2023 | $1.24 | 1.53% |
| 4 | May 03, 2023 | Jun 14, 2023 | Jun 29, 2023 | $2.12 | 3.08% |
| 5 | Feb 22, 2023 | Mar 14, 2023 | Mar 30, 2023 | $2.15 | 3.19% |
FAQ
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