CRC stock: buy or sell?
Dec 2nd, 2020
CRC stock brief
- California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California.
Should I buy California Resources stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $CRC stock a buy?
In the current situation of California Resources there is not any eligible buy setup. This doesn't mean $CRC will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell California Resources stock?
Do you know when is it time to sell California Resources?. Trading strategies help us to avoid rash decisions based on our personal sentiments or the buzz surrounding the market. We like very simple strategies to guide us on when is a good moment to sell our shares. Be aware that these strategies are not intended for selling short $CRC stock
As a rule of thumb, you must never keep a trading operation that generates losses greater than those expected by the time of purchase. The moment to sell your stock always has to be dictated by the stop-loss (automatic or manual)
Is it time to sell California Resources stock?
Currently, California Resources stock doesn't match any of our preferred sell setups, so if you own California Resources stock and your operation is in profit probably is not time to sell now
California Resources ratings
We don't have any rating published in the last month for California Resources
California Resources stock analysis
Supports and resistances
Price is at highs and there are not upper resistance levels.
Price is at all-time lows and there are not lower support levels.
Price readings above or below the Bollinger Bands tell us that the price has has trended strongly to extreme highs or lows. In this case, the price is above the upper band, which should mean a near-term correction (at least) until it is under the band
Relative strength index
The has been between the the levels of 30 and 70 for several weeks, and therefore, without this indicator really serving to help us make any decisions.
California Resources stock price history
California Resources went public priced at an adjusted price1 of $19.95 on Oct 2020. Since then, CRC stock has risen by 18.25%, with an average of inf% per year. An investment of $1,000USD on Oct 2020 would have a value of $1,182.46 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for California Resources stock
Nobody can predict how much a share will be priced in the future. However, many stock price forecasts are published every day by banks, financial institutions and independent analysts.
The following table shows the price forecasts posted by analysts in the last month. Again, these estimates are not direct recommendations for small traders and should not be followed blindly.
In the previous 30 days we couldn't find any price target published for California Resources stock.
Earnings and financials
Financial event was hosted by California Resources ($CRC) in early November after presenting the financial report.Compared to the same quarter one year ago, EPS was $0.35, so current EPS means a increase of 380.00%. Looking at revenue, figures tanked a -36.49% compared to $6.4B same quarter a year ago.
CRC ($CRC) will host the earnings call next February.
California Resources competitors
California Resources belongs to the Oil & Gas E&P industry, which contain 40 industry peers.
California Resources major competitors are:
|Company||Market cap||Rating||Bullish ratings1|
|California Resources ($CRC)||$1.2B|
|ConocoPhillips ($COP)||$42.3B|| ||2|
|EOG Resources ($EOG)||$27.5B||Buy||2|
|Canadian Natural Resources ($CNQ)||$26.9B|| ||2|
|Pioneer Natural Resources ($PXD)||$18.3B||Buy||1|
|Occidental Petroleum ($OXY)||$15.6B||Neutral||2|
|Matador Resources ($MTDR)||$953.4M||Neutral||0|
1 In the last 30 days.
California Resources performance
To better understand California Resources stock performance you must compare its gains with other related stocks in same sector or industry.. For California Resources, the benchmark is made against CNOOC, ConocoPhillips, EOG Resources, Canadian Natural Resources, Pioneer Natural Resources, Occidental Petroleum and Matador Resources.
|California Resources ($CRC)||78.40%||18.20%||18.20%|
|EOG Resources ($EOG)||33.40%||5.10%||-13.90%|
|Canadian Natural Resources ($CNQ)||42.60%||17.90%||19.60%|
|Pioneer Natural Resources ($PXD)||23.50%||-2.30%||1.10%|
|Occidental Petroleum ($OXY)||63.40%||22.90%||0.50%|
|Matador Resources ($MTDR)||45.10%||2.40%||23.10%|
Important note:The comments given in this article are personal and not recommendations for you to buy or sell shares. The author of this paper does not know the individual positions of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are published for educative reasons only
|Tuesday, December 1st, 2020|
|Day range||$22.13 - $23.68|
|Average true range||$2.02|
|50d mov avg||$|
|100d mov avg||$|
|200d mov avg||$|
|Earnings date||February 24th, 2021|