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Multi-Utilities Industry Stocks Technical Analysis - CNPArchive
- 1/17/2025 -
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CenterPoint Energy (CNP) Technical Analysis
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| Summary:
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| | It was a first positive week after 3 consecutive negative weeks for the CenterPoint Energy (CNP). During the week, the CNP gained 1.38 points, or 4.43%, and closed at 32.56 on Friday, January 17, 2025. It was the best weekly gain since November 8, 2024. Weekly volume was -15% below average.
 Long-term trend: [See CNP long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 25.03 and reached 33.00 on December 3, 2024. CNP gained -7.97 points, or -31.84%, in 111 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (25.42) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CNP medium-term trend chart]
A medium-term uptrend had started on August 15, 2024 at 25.41 and reached 33.00 on December 3, 2024. CNP gained -7.59 points, or -29.87%, in 15 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 32.84 and resistance is at 32.40. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.
 Weekly Technical Indicators: [See CNP weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 27, 2024. This is an indication that the medium-term trend is up. 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 January 8, 2025 at 30.59 and reached 32.82 on January 16, 2025. CNP gained -2.23 points, or -7.29%, in 8 days. The price is now at the 11.66% retracement level.
Daily Technical Indicators: [See CNP daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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