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Advanced TA SearchArchive
- 5/10/2024 -
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CenterPoint Energy (CNP) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth consecutive positive week for the CenterPoint Energy (CNP). During the week, the CNP climbed 0.25 points, or 0.85%, and closed at 29.70 on Friday, May 10, 2024. Weekly volume was 35% above average.
CNP is a member of Utilities Sector. Utilities is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 55.14% retracement level.
 Medium-term trend: [See CNP medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 25.03 and reached 31.52 on December 1, 2022. CNP gained -6.49 points, or -25.93%, in 7 weeks. The price is now at the 28.04% retracement level.
 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 March 8, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 16, 2024 at 26.90 and reached 29.88 on May 10, 2024. CNP gained -2.98 points, or -11.08%, in 24 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (29.85) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.
 Daily Technical Indicators: [See CNP daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 18, 2024. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (29.46) comes close to the price (29.70). It indicates that the trend is getting weaker. 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.
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