CNX Resources (NYSE: CNX) STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 25 – 25.25 |
| Target | 26.5 – 26.8 |
| StopLoss* | below 24.5 |
| Duration | 12-14 Trading Days |
| Potential Returns | 5% – 6% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 25 – 25.25 | 26.5 – 26.8 | below 24.5 | 12-14 Trading Days | 5% – 6% |
* Once the first target hit, reset the StopLoss at your buying price.
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CNX Resources (NYSE: CNX) STOCK OVERVIEW
CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas from shale properties in Pennsylvania, West Virginia, and Ohio, as well as rights to extract natural gas from other shale and shallow oil and gas formations in Illinois, Indiana, New York, and Virginia. It also owns rights to extract CBM in Virginia, West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. The company was formerly known as CONSOL Energy Inc. and changed its name to CNX Resources Corporation in November 2017. CNX Resources Corporation was founded in 1860 and is headquartered in Canonsburg, Pennsylvania.
| Stock Data | |
| NYSE Symbol | CNX |
| Sectoral Index | Oil & Gas Production |
| 52 Weeks High | 24.94 |
| 52 Weeks Low | 15.08 |
CNX Resources (NYSE: CNX) - RELATIVE STRENGTH
Relative Performance - Last 1 Year
CNX Resources — NYSE —
CNX Resources (NYSE: CNX) - DAILY TECHNICAL ANALYSIS
- After a upside rally, price took a rejection near 24 level and made a correction.
- Finally the price found its support at near 19 level and started moving upside from there and managed to break its previous resistance level.
- A Rounding Bottom pattern has been formed during this phase.
- After the breakout, price consolidated above the breakout level.
- With a fresh breakout, it seems that the price may continue its trend.
CNX Resources (NYSE: CNX) - RSI
Current RSI of this stock is 68.57, which indicates the strength of buyers.
CNX Resources (NYSE: CNX) - MACD
MACD line has crossed the signal line from the below, generates bullish signal.
CNX Resources (NYSE: CNX) - ADX & DI
Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.
CONCLUSION - CNX Resources (NYSE: CNX) STOCK PRICE FORECAST
Based on our stock trading advice in USA, CNX Resources stock price target will be USD 26.5 – USD 26.8 in the next 12-14 trading sessions.
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