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Advanced TA SearchArchive
- 4/5/2024 -
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CenterPoint Energy (CNP) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was the negative week for the CenterPoint Energy (CNP). During the week, the CNP dropped -0.44 points, or -1.54%, and closed at 28.05 on Friday, April 5, 2024. Weekly volume was 6% above average.
 Long-term trend: [See CNP long-term trend chart]
A long-term downtrend had started on September 23, 2022 at 33.50 and reached 25.03 on October 13, 2022. CNP lost 8.47 points, or 25.28%, in 2 weeks. The price is now at the 35.66% retracement level.
 Medium-term trend: [See CNP medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 26.95 and reached 28.78 on April 2, 2024. CNP gained -1.83 points, or -6.79%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 27.22 and resistance is at 29.31. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See CNP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 8, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See CNP short-term trend chart]
A short-term uptrend had started on March 26, 2024 at 27.16 and reached 28.78 on April 2, 2024. CNP gained -1.62 points, or -5.96%, in 7 days. The price is now at the 45.06% retracement level.
Daily Technical Indicators: [See CNP daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 27, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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