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Jonathan Merton's Avatar
published in Blogs
May 06, 2023

CDZIP pattern shows 8% price hike

In the case of CDZIP, a bullish Triangle Symmetrical Top pattern has emerged on April 28, 2023, indicating that the market may be anticipating a potential price increase. Furthermore, the current confidence level to reach the target price is 72%, suggesting that market participants are fairly confident in the potential for the stock to rise.

The target price for CDZIP is $18.29, which represents an 8% increase from the breakout price of $17.17. This price target is based on the height of the triangle pattern, which is measured from the highest point of the triangle to the lowest point, and then projected upwards from the breakout point.

If the stock price breaks out above the upper trendline of the symmetrical triangle pattern, this would be considered a signal to enter the market with a long position, also known as the breakout price. In this case, the breakout price is $17.17. The distance to the target price is only 8%, making this a relatively low-risk opportunity for potential investors.

In conclusion, the Triangle Symmetrical Top pattern that has emerged for CDZIP is indicating a potential bullish trend in the near future. With a current confidence level of 72%, and a relatively short distance to the target price, this may be an attractive opportunity for investors looking for a potential increase in their investment returns. However, it is important to note that technical analysis is just one tool in the investor's toolbox and should be used in conjunction with other forms of analysis before making any investment decisions.

Related Ticker: CDZIP

Industry description

Water utilities operate water treatment plants, and/or distribute water to residential and commercial customers. Companies operating in this industry are largely responsible for the safe and timely distribution of water. While most water systems are local or regional, some of the companies might have operations across several states. The industry is expected to be closely monitored by regulators for quality checks on the water being distributed. Investing in upgrading infrastructure is a major factor in bolstering the supply of clean/safe-to-use water. Given the absolute necessity of water in our lives, the industry is largely non-cyclical. American Water Works Company, Inc., Aqua America, Inc., American States Water Co. and California Water Service Group are some of the major water utilities companies in the U.S.

Market Cap

The average market capitalization across the Water Utilities Industry is 3.39B. The market cap for tickers in the group ranges from 41.88K to 28.64B. AWK holds the highest valuation in this group at 28.64B. The lowest valued company is AEPT at 41.88K.

High and low price notable news

The average weekly price growth across all stocks in the Water Utilities Industry was 5%. For the same Industry, the average monthly price growth was 2%, and the average quarterly price growth was 2%. DOMWF experienced the highest price growth at 100%, while CDZI experienced the biggest fall at -6%.

Volume

The average weekly volume growth across all stocks in the Water Utilities Industry was -70%. For the same stocks of the Industry, the average monthly volume growth was -74% and the average quarterly volume growth was -70%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 55
P/E Growth Rating: 60
Price Growth Rating: 50
SMR Rating: 75
Profit Risk Rating: 62
Seasonality Score: 10 (-100 ... +100)
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

Industry WaterUtilities

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Fundamentals
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Industry
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Address
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+1 213 271-1600
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Web
https://www.cadizinc.com
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CDZIP and

Correlation & Price change

A.I.dvisor tells us that CDZIP and AWR have been poorly correlated (+12% of the time) for the last year. This A.I.-generated data suggests there is low statistical probability that CDZIP and AWR's prices will move in lockstep.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To CDZIP
1D Price
Change %
CDZIP100%
+1.11%
AWR - CDZIP
12%
Poorly correlated
-0.50%
CWT - CDZIP
8%
Poorly correlated
-1.21%
AWK - CDZIP
6%
Poorly correlated
-0.28%
ARIS - CDZIP
3%
Poorly correlated
-2.23%
YORW - CDZIP
-1%
Poorly correlated
-0.71%
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