Nov. 14 at 11:50 PM
$CNP is currently trading at
$39.74, with an RSI of 50.0 indicating a neutral momentum. The 30-day moving average (MA30) is at
$39.4, and the 50-day moving average (MA50) is slightly lower at
$38.95, suggesting a bullish short-term trend as the price is above both MAs. The 60-day high is
$40.5, which presents a resistance level, while the 60-day low is
$36.6, indicating a support level.
Given the current price is near the 60D high and the neutral RSI, a cautious bullish bias is warranted. Suggested entry is at
$39.80, slightly above the last close to confirm upward momentum. Set a stop loss at
$39.00 to manage risk. Target 1 can be set at
$40.50 (60D high), and Target 2 at
$41.00, allowing for potential breakout gains.
Monitor price action closely around these levels for any changes in momentum.
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