California Resources Corporation (CRC)

CRC stock forecast: buy or sell

CRC stock outlook

  • California Resources closed yesterday at $1.17 after dropping a -2.5%.
  • California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California.
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Please read:
The opinions written in this post are personal and should not be followed as recommendations for you to buy or sell shares. The author of this paper does not have an understanding of the particular scenarios 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 Thoughts are provided for informational purposes only

CRC stock chart overview

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

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Should I sell California Resources stock?

Do you know when is it time to sell California Resources stock?. Trading strategies let us to avoid impulsive decisions based on our personal feelings or the noise that surrounds the market. When selling, as well as buying, our setups are very simple to use and are only valid for selling stocks in your porfolio, not for shorting CRC stock

As a golden rule, you must never hold an open trade that produces higher than expected losses by the time of purchase. The moment to sell your stock must always be determined by the stop-loss (automatic or manual)

Is it time to sell California Resources stock?

In the current situation of California Resources there is not any eligible sell setup, so California Resources stock holders with operations in green can keep their positions

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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

In the last month we couldn't find any rating for California Resources

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Technical analysis

SMAs overview

A favorite tool of many traders are the moving averages, that easily show trend direction. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days. You can found more about Moving Averages from sources like Wikipedia and Investopedia

Supports and resistances

Investors use supports and resistances as a way to spot price points on a chart that may behave as glass ceiling, containing the price of a stock to move in certain direction. Supports are levels where the price may find support as it falls. Price is more likely to "rebound" this level rather than break through it. However, if the price breaks down this level, it will probably continue falling until approaching another support level. On the other hand, resistances are where the price tends to find opposition as it rises. Again, this means that the price is more likely to "rebound" at this level, and if it finally ruptures this level, the price will rally easily until it hits the next resistance

The current resistance levels are:

  • R1: $50.34 (4202.56% above)
  • Price is at all-time lows and there are not lower support levels.

    Bollinger bands

    The so-called Bollinger bands are a widely known technical strategy developed by John Bollinger. It is composed of 3 lines that are drawn superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of stock markets. Its objective is to plot the current and previous weakness or strength of a stock or market based on the closing prices of a recent trading period. Like other oscillation indicators, the RSI fluctuates from 0 to 100. The relative strength indicator is one of the best known and most widely used indicators, invented by J. Welles Wilder in 1978

    The relative strength (RSI) has been between the overbought and oversold zones for several weeks, and therefore, without this indicator really serving to help us make any decisions.

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    Earnings and financials

    Q2 shareholders event was hosted by CRC on June 25 after posting the financial report. The analysts estimate is a earnings of %s a share of $-1.71, that is a 0% lower than last reported quarter. CRC posted 2nd-quarter earnings of $-0.16 per share versus consensus earnings estimate that was $-1.71.

    Compared to the same quarter last year, EPS was $-0.29, so posted EPS means a gain of 44.83%. Looking at revenues, figures collapsed a -19.42% compared to $690.0M same quarter 12 months ago.

    CRC is hosting the Q3 earnings call next October. Wall Street estimates earnings of %s per-share of $0.00, compared to previous quarter that was $-0.16. Earnings reporting day has an additional risk for stock investors as the results provided can soar and sink the price with very low liquidity and not honouring your buy/stop-loss orders. You can find more details about the earnings call and the earnings reports on the Investor Relations section of its website: http://www.crc.com.

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