A key Ascending Triangle has formed on CNP. Analyze the breakout level now.
Bullish continuation pattern.
Bullish continuation if preceding move was up.
Reversal pattern. Price likely to break downwards.
Sideways movement between parallel supports.
Traders are watching CenterPoint Energy (CNP) as price action tightens. Currently at $43.71, the asset is showing upward momentum (1.06%). Price action has carved out a classic Bullish Flag. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $44.39, targeting $51.39 with support near $41.91 (R:R 2.82).
What is your outlook on CNP?