California Water Service Group Holding Stock Forecast
California Water Service Group Holding stock upgraded from Strong Sell Candidate to Sell Candidate after Monday trading session.
(Updated on Apr 15, 2024)
The California Water Service Group Holding stock price fell by -0.0225% on the last day (Monday, 15th Apr 2024) from $44.40 to $44.39. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.83% from a day low at $43.74 to a day high of $44.54. The price has fallen in 7 of the last 10 days and is down by -4.6% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -95 thousand shares and in total, 271 thousand shares were bought and sold for approximately $12.02 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $44.37 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect California Water Service Group Holding stock with a 90% probability to be traded between $43.51 and $46.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
CWT Signals & Forecast
There are few to no technical positive signals at the moment. The California Water Service Group Holding stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $45.56 and $46.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, March 11, 2024 with a target of $45.71. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for California Water Service Group Holding stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.800 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CWT) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect California Water Service Group Holding to open at $44.22, and during the day (based on 14 day Average True Range), to move between $43.29 and $45.49, which gives a possible trading interval of +/-$1.10 (+/-2.48%) 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 4.96% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $45.60, some $1.21 (2.73%) from the current price of $44.39, our system finds the risk reward not very attractive.
Is California Water Service Group Holding stock A Buy?
California Water Service Group Holding holds several negative signals and is within a 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: -2.145 Sell Candidate Upgraded
Predicted Opening Price for California Water Service Group Holding of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $44.22 ( 0.375%) | $44.39 |
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 | 45.02 | 1.43 % | |
| R2 | 44.72 | 0.738 % | ||
| R1 | 44.53 | 0.313 % | ||
| Current price: | 44.39 | |||
| Support | S1 | 43.92 | -1.06 % | |
| S2 | 43.73 | -1.49 % | ||
| S3 | 43.42 | -2.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.51 | 4.78 % | |
| R2 | 45.92 | 3.45 % | ||
| R1 | 45.60 | 2.73 % | ||
| Current price | 44.39 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CWT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 09, 2024 | Feb 23, 2024 | $0.260 | 0.564% |
| 2 | Oct 25, 2023 | Nov 03, 2023 | Nov 17, 2023 | $0.260 | 0.505% |
| 3 | Jul 26, 2023 | Aug 04, 2023 | Aug 18, 2023 | $0.260 | 0.503% |
| 4 | Apr 26, 2023 | May 05, 2023 | May 19, 2023 | $0.260 | 0.476% |
| 5 | Jan 25, 2023 | Feb 03, 2023 | May 19, 2023 | $0.260 | 0.476% |
FAQ
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