CenterPoint Energy Inc Stock Forecast
Green day on Monday for CenterPoint Energy Inc
(Updated on Apr 22, 2024)
The CenterPoint Energy Inc stock price gained 0.88% on the last trading day (Monday, 22nd Apr 2024), rising from $28.53 to $28.78. It has now gained 4 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 2.01% from a day low at $28.38 to a day high of $28.95. The price has risen in 6 of the last 10 days and is up by 1.98% 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, 67 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $78.68 million.
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. $28.74 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 $30.24 sometime during the next 3 months.
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CNP Signals & Forecast
The CenterPoint Energy Inc 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 $27.86 and $28.01. 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 5.73%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 with a target of $27.96. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for CenterPoint Energy Inc stock
CenterPoint Energy Inc finds support from accumulated volume at $27.89 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 $0.570 between high and low, or 2.01%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $27.61 (-4.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CNP) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect CenterPoint Energy Inc to open at $28.70, and during the day (based on 14 day Average True Range), to move between $28.29 and $29.27, which gives a possible trading interval of +/-$0.489 (+/-1.70%) up or down from last closing price. If CenterPoint Energy Inc takes out the full calculated possible swing range there will be an estimated 3.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $27.89, some $0.89 (3.09%) from the current price of $28.78, our system finds the risk reward attractive.
Earnings coming up
CenterPoint Energy Inc will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.510. We will update the financials statements for CenterPoint Energy Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.00% in the first trading day after earnings release.
Is CenterPoint Energy Inc stock A Buy?
CenterPoint Energy Inc 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: 0.070 Hold/Accumulate Unchanged
Predicted Opening Price for CenterPoint Energy Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $28.70 ( 0.266%) | $28.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.27 | 1.71 % | |
| R2 | 29.06 | 0.96 % | ||
| R1 | 28.92 | 0.490 % | ||
| Current price: | 28.78 | |||
| Support | S1 | 28.49 | -1.02 % | |
| S2 | 28.35 | -1.49 % | ||
| S3 | 28.13 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 28.78 | |||
| Support | S1 | 27.89 | -3.09% | |
| S2 | 27.87 | -3.16% | ||
| S3 | 27.50 | -4.45% |
CNP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 14, 2023 | Feb 14, 2024 | Mar 14, 2024 | $0.200 | 0.717% |
| 2 | Sep 28, 2023 | Nov 15, 2023 | Dec 14, 2023 | $0.200 | 0.673% |
| 3 | Jul 19, 2023 | Aug 16, 2023 | Sep 14, 2023 | $0.190 | 0.656% |
| 4 | Apr 20, 2023 | May 17, 2023 | Sep 14, 2023 | $0.190 | 0.656% |
| 5 | Dec 15, 2022 | Feb 15, 2023 | Mar 09, 2023 | $0.190 | 0.681% |
FAQ
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