CALIFORNIA RESOURCES CORP (NYSE:CRC) - A High Growth Momentum Stock with Strong Technical Setup

CALIFORNIA RESOURCES CORP (NYSE:CRC) has been identified as a stock with both high growth momentum and a favorable technical setup. The company, which focuses on energy transition and carbon management, shows strong earnings momentum while presenting a consolidation pattern that could signal a breakout opportunity.

Growth Momentum Highlights

• Earnings Growth: CRC reported a 42.7% year-over-year EPS growth in the most recent quarter, with sales surging 100.9%.
• Positive Revisions: While EPS estimates for next year have seen downward revisions, the company has consistently beaten revenue expectations, with an average surprise of 12.6% over the last four quarters.
• Profit Margins: The latest quarter showed a profit margin of 12.6%, rebounding from 3.8% in the prior quarter.
• Free Cash Flow: Despite a year-over-year decline, FCF per share remains healthy at $5.08.

Technical Strength & Setup

• Technical Rating (7/10): CRC is in a positive trend, with both short-term and long-term momentum pointing upward.
• Setup Rating (7/10): The stock is consolidating near a resistance zone between $46.91 and $47.28. A breakout above this level could present an entry opportunity.
• Support & Resistance: Key support sits at $42.08, while resistance is seen at $47.28 and $54.04.
• Recent Signals: A pocket pivot signal suggests accumulation, reinforcing the bullish setup.

For a deeper technical breakdown, review the full technical report.

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Disclaimer

This is not investment advice. The observations here are based on current data, and investors should conduct their own analysis before making decisions.