The Greedy Trader Weekly Analysis
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Daily W%R:> 90
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/15/2024 -
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CenterPoint Energy (CNP) Technical Analysis

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Summary:
Weekly :Oversold sectorBroken trend resistance lineWeekly  MACD line has moved above its signal line
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AveragePrice is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the CenterPoint Energy (CNP). During the week, the CNP dropped -0.46 points, or -1.62%, and closed at 27.87 on Friday, March 15, 2024. Weekly volume was 16% above average.

CNP is a member of Utilities Sector. Utilities is the most oversold 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 December 14, 2023 at 30.55 and reached 26.95 on February 13, 2024. CNP lost 3.60 points, or 11.78%, in 8 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (26.18) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See CNP medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 26.95 and reached 28.71 on March 11, 2024. CNP gained -1.76 points, or -6.53%, in 3 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 27.15 and resistance is at 28.84. 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.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See CNP short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 28.71 and reached 27.62 on March 14, 2024. CNP lost 1.09 points, or 3.80%, in 3 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 1, 2024. The distance between MACD and the signal line is low and getting smaller.

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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.73
Williams' Percentage Range (W%R) 61.80
Lane's Stochastic (%D-Slow) 55.49
Greed/Fear Indicator (GFI) 51.80
Moving Average Converg./Diverg. (MACD) 0.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.62
Williams' Percentage Range (W%R) 71.30
Lane's Stochastic (%D-Slow) 33.37
Greed/Fear Indicator (GFI) 36.13
Moving Average Converg./Diverg. (MACD) -0.17
Trading Signals
Description Value Chart
Weekly Trendline Resistance 28.84
Parabolic System 28.72
Upper Bollinger Band 28.60
Daily Stochastic Crossing 28.13
50 Day Moving Average 27.98
20 Day Moving Average 27.91
Price 27.87
Weekly Stochastic Crossing 27.61
Lower Bollinger Band 27.30
Weekly Trendline Support 27.15
Monthly Trendline Resistance 26.57
Monthly Trendline Support 26.18
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Multi-Utilities 25
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 28.71
High Date 03/11/2024
Low 27.62
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 28.84
Support 27.15
Low 26.95
Low Date 02/13/2024
High 28.71
High Date 03/11/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 26.57
Support 26.18
High 30.55
High Date 12/14/2023
Low 26.95
Low Date 02/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.50
High Date 09/23/2022
Low 25.03
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 11.58
Low Date 03/19/2020
High 33.50
High Date 09/23/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.