CLEARWAY ENERGY INC-C (CWEN) Stock Technical Analysis
NYSE:CWEN - New York Stock Exchange, Inc. - US18539C2044 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to CWEN. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CWEN is showing a nice and steady performance.
Besides having an excellent technical rating, CWEN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 32.65. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 31.62, a Stop Loss order could be placed below this zone.
More info and screens
24.34
We found 6 important support areas.
- A support zone ranging from 31.56 to 31.62. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @29.29 from a trend line in the daily time frame.
- Support @28.03 from a horizontal line in the weekly time frame.
- Support @27.26 from a trend line in the weekly time frame.
- A support zone ranging from 26.69 to 26.78. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @24.59 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 32.65 to 32.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CWEN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CWEN is up. |
| ChartMill Relative Strength | 74.69 | POSITIVE | CWEN has a high relative strength, it outperformed 74.69% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CWEN is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CWEN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CWEN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.74 | NEUTRAL | The RSI value for CWEN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.07 | NEGATIVE | The MACD value suggests CWEN has a negative trend. |
| Stochastics (14,3) | 64.24 | NEUTRAL | The Stochastics value for CWEN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.37 | MEDIUM VOLATILITY | The ATR as a percentage value for CWEN suggests some volalility. |
| Average Directional Index/ADX (14) | 15.02 | NEGATIVE | The low ADX value for CWEN suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 32.66 | 31.55 | 1.11 (3.40%) | 25.00% |
| An entry @32.66. This is a Buy Stop order right above the resistance zone. | An exit @31.55. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.11 points, which is 3.40%. | For a 0.85% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CWEN. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
31.87
-0.38 (-1.18%)