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California Resources Corporation (CRC)

CRC stock forecast: buy or sell

Close on Sep 29th, 2020
$12250 0.02%
3 months performance
0.05%
Published: September 29th, 2020 - 5.15pm EDT

CRC stock outlook

  • California Resources stock rose 1.66% to close at $12,250.00 on the stock market today.
  • The stock is configuring an uptrend pattern since late July, when it bottomed at $10,800.00. This uptrend marked a 13.43% gain

Please read:
The thoughts expressed in this article are personal and not recommendations for you to buy or sell stocks. The author of this article does not know the specific positions of the reader, his or her own financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are expressed for learning reasons only

CRC stock charts

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?

Currently, California Resources stock doesn't match any of these trading strategies, so our recommendation is not to buy now. 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?

When you are a novel trader and you own stock shares with some profit, it's really difficult to decide the correct moment to sell and get your profits. Similarly to when we have to buy shares, choosing when is appropiate time to sell is not a whimsy decision, and we must adhere our own trading style. We like very simple setups to guide us on when is the best time to sell our shares. Be aware that these setups are not intended for shorting California Resources stock

A golden rule is that you should never hold an open trade that generates losses greater than those expected upon the buy. The moment to sell shares should always be ruled 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 shares and your operation is in profit probably is not time to sell now

Analysts' recommendations to buy or sell California Resources stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

We don't have any rating published in the previous 30 days for California Resources

Technical analysis

Since in late July, California Resources has been drawing an uptrend that so far marked an amazing 13.43%. Rising peaks and troughs can be seen easily on a chart and how price action offered very few buy points on the breakouts. Latest low was in late August, when price bounced at $11,800.00. Now, it moves in a consolidation between its last top ($12,800.00) and its last bottom ($11,800.00)

SMAs overview

Moving averages are tools for investors to measure stock direction. A moving average is the average price of a stock over a set period of time. Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

CRC SMAs chart

Supports and resistances

Investors use supports and resistances to find price points on a chart that may act as glass ceiling, containing the price of a stock to move up or down. A support level is a level where the price may find support as it falls. Price is more likely to "bounce off" this level rather than break through it. However, if the price breaks down the support, it will probably continue descending until approaching another support level. On the other hand, a resistance level is where the price may find resistance as it rises. In the same way, this means that the price is more liable to "rebound" at this level, and if it finally ruptures this level, the price will rally easily until it approaches the next resistance

The current resistance levels are:

  • R1: $12,600.00 (2.86% above)
  • R2: $12,750.00 (4.08% above)
  • R3: $12,800.00 (4.49% above)
  • The current support levels are:

  • S1: $11,800.00 (-3.67% below)
  • S2: $11,500.00 (-6.12% below)
  • S3: $11,300.00 (-7.76% below)
  • Bollinger bands

    The so-called Bollinger bands are a widespread practice designed by John Bollinger. Basically, the Bollinger Bands are lines that run around a centralmoving averagediffering in distance from the bottom to the top depending on market volatility. They are usually drawn by an offset of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20

    CRC RSI chart

    Relative strength index

    The RSI (Relative Strength Index) is an oscillator-type indicator that gauges price fluctuations to reveal when the price of a share or financial asset is overbought or oversold. Like other oscillation indicators, the RSI ranges from 0 to 100. J. Welles Wilder introduced the relative strength indicator in the late 1970s and since then it has been widely used by investors

    When the RSI stays for so long below 70 and above 30, without showing moments of overbought and oversold, the indicator gets of little use, and we are currently in one of these situations.

    CRC RSI chart

    Earnings and financials

    Second-quarter financial event was hosted by CRC in late June after posting the earnings report. The analysts estimate is a earnings of %s per-share of $-1.71, that is a 0% lower than last reported quarter. CRC reported Q2 earnings of $-0.16 per share versus analysts estimate that was $-1.71.

    This compares to earnings of $-0.29 per share same quarter last year, so posted EPS is an increase of 44.83%. Looking at revenues, figures collapsed a -28.41% compared to $690.0M same quarter 12 months ago.

    CRC is presenting financial report on late next October. Wall Street analysts forecast an Earnings per Share of $0.00, that is a 100% more than Q2. If you hold or you are planning to buy CRC shares, be careful as financial reporting day usually has a very high volatility, and price can soar and sink with exceptionally low liquidity and not respecting your buy or stop-loss orders.

    CRC revenues and profits chart