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Reading the Charts in Centerpoint Energy $CNP to Generate Trading Plans

When we read the charts for Centerpoint Energy (NYSE: CNP) we are able to reach conclusion that are not otherwise discernable.  We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented.  These are what create trading plans.  The example here is for CNP and it demonstrates this practice.  This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports

Technical Summary

Term →Near Mid Long
Rating Weak Weak Strong
P1 0 0 21.20
P2 19.60 18.72 22.88
P3 20.09 19.73 24.58
Triggers may have already come
Support and Resistance Plot Chart for CNP

Long Term Trading Plans for CNP

March 6, 2021, 1:00 pm 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

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

CNP - (Short) Resistance Plan

The technical summary data is suggesting a short of CNP as it gets near 21.20, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 21.26. 21.20 is the first level of resistance above 20.66, and by rule, any test of resistance is a short signal. In this case, if resistance 21.20 is being tested, so a short signal would exist.


CNP Long Term Analysis for March 6 2021

Blue = Current Price
Red= Resistance
Green = Support

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CNP EPS Analysis for March 6 2021

CNP Dividend Chart for March 6 2021

CNP Revenue chart for March 6 2021

CNP Growth rate - Quarterly for March 6 2021

CNP Growth rate - Yearly for March 6 2021

CNP PE chart for March 6 2021

CNP PEG chart for March 6 2021