CNP - When Investors Make Decisions in Centerpoint Energy #CNP Opportunities Surface
Influential #investors can create defining moments in a stock's price, by simply making large #buyandsell decisions, and Centerpoint Energy (NYSE: CNP) is no exception. Pivot points in a chart pattern are often created by these events, and as we have learned this does not require institutional investment decisions. For CNP like every other stock, smaller investors can be heard as well, but one thing is the same. No matter what class of influential investor is speaking, we can hear what they are saying with their pocketbooks by looking at price action; that is exactly what we have done below. This changes over time, so we suggest updating the data for the most actionable results, but this static example also demonstrates how this is done. For an update, please request Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Strong | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 21.66 | |||
| P2 | |||
| 24.50 | |||
| 24.08 | |||
| 23.21 | |||
| P3 | |||
| 24.95 | |||
| 24.64 | |||
| 24.82 |
Long Term Trading Plans for CNP
May 4, 2021, 12:15 am ET
The Technical Summary and Trading Plans for CNP help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CNP Report.
CNP - (Long) Support Plan
The technical summary data tells us to buy CNP near 23.21 with an upside target of 24.82. This data also tells us to set a stop loss @ 23.14 to protect against excessive loss in case the stock begins to move against the trade. 23.21 is the first level of support below 24.42 , and by rule, any test of support is a buy signal. In this case, support 23.21 is being tested, a buy signal would exist.
CNP - (Short) Resistance Plan
The technical summary data is suggesting a short of CNP as it gets near 24.82 with a downside target of 23.21. We should have a stop loss in place at 24.89though. 24.82 is the first level of resistance above 24.42, and by rule, any test of resistance is a short signal. In this case, if resistance 24.82 is being tested, a short signal would exist.