Consol Energy’s price showed an uptrend in the past sessions and maintained the gains above the 200-day SMA in the bullish territory.
The chart shows Bullish Momentum at present. Moreover, price action favors the buyers, and long buildup activity was noted on the charts.
Consol Energy’s price is on an upward trajectory to $84.53, which if surpassed, the price will revisit the highs of $90.00. Conversely, the lower trajectory is near $71.47, which, if it breaks, the price will revisit the 200-day EMA near $63.32.
At press time, CEIX was trading at $79.93 with an intraday loss of 1.10%, showing neutrality. Moreover, the 24-hour trading volume is $483.785K. However, the market cap of CEIX is $2.557 Billion. The day high of CEIX is $80.59, and the day low at $79.33 indicates a narrow trading range.
Technical Analysis of Consol Energy Stock Price in 1-D Timeframe
Currently, Consol Energy stock (NYSE: CEIX) is trading above the 50 and 200-day simple moving averages, which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, Consol Energy price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 62 points. The 14 SMA is above the median line at 64 points which indicates that the Consol Energy stock is bullish.
The MACD line at 2.88 and the signal line at 2.50 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the CEIX stock price.
Short-Term Charts Price Analysis
On the 4-hour charts, Consol Energy’s price is bullish; it is between the $79.30 – $80.00 range with the highest volumes. However, the trend is strong, and buyers are attempting to break the zone and try to sustain above the round spot of $80.00.
The RSI curve is near 60 (near neutrality), forming a negative crossover due to the consolidation move. The MACD indicator showed a bullish crossover with green bars. The price could reach new highs.
Summary
Consol Energy’s (NYSE: CEIX) technical indicator also supports the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the CEIX stock price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, Investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: Nearest support level is $75.00
- Resistance levels: Nearest resistance level is $84.27
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/12/consol-energy-stock-prediction-will-ceix-price-fly-above-100/