CRBG Price Prediction Next Week
Technical Analysis
CRBG's current price at $33.76 shows a bearish trend in the short term, with a -1.03% decline in the last trading session . The stock is trading above both its 20-day SMA ($31.85) and 60-day SMA ($31.12), indicating an overall upward momentum despite recent pullback.
RSI Analysis The current RSI reading of 66.43 suggests the stock is approaching overbought territory but hasn't reached extreme levels yet. This indicates there's still room for upward movement before potential reversal.
Fibonacci Levels Key resistance levels:
- R1: $34.24
- R2: $34.91
- R3: $36.00
Key support levels:
- S1: $32.07
- S2: $31.40
- S3: $30.32
News Impact Recent significant news includes:
- The retirement announcement of General Counsel, which caused a 4.6% drop in stock price
- $90,000 in lobbying expenses disclosed for Q4 2024, focusing on retirement security and Corporate Alternative Minimum Tax regulations
- Insider trading activity shows 4 sales and no purchases in past 6 months, while institutional investors show mixed activity with 222 adding shares and 174 reducing positions
Price Prediction for Next Week Based on technical indicators and news sentiment:
- Bullish scenario (60% probability): Stock likely to test R1 at $34.24
- Bearish scenario (30% probability): May find support at S1 $32.07
- Sideways scenario (10% probability): Consolidation between $33.00-$34.00
Trading Recommendation BUY with entry point at current price $33.76 with following strategy:
- Target: $34.24 (R1 level)
- Stop loss: $32.07 (S1 level)
- Risk/Reward ratio: 1:1.23
Rationale:
- Strong institutional support with more buyers than sellers
- Trading above key moving averages
- RSI indicates momentum but not extremely overbought
- Positive analyst sentiment with average price target showing upside potential
CRBG Similar Chart Price Prediction
The price of CRBG is predicted to go up 12.2%, based on the high correlation periods with MRNA. The similarity of these two price pattern on the periods is 97.63%.
CRBG
MRNA
Up: 12.2%Similarity: 97.63%
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CRBG Analyst's Forecast
Cave Montazeri
Deutsche Bank
Hold → Strong Buy
Price Target
$33 → $40
Upside
+33.07%
Deutsche Bank upgraded Corebridge to Buy from Hold with a price target of $40, up from $33. Corebridge is poised for "robust" organic growth in 2025, benefiting from favorable demographics, strong equity markets, and a sustained period of higher interest rates, the analyst tells investors in a research note. The firm says the company's focus on operational efficiency and balance sheet optimization is expected to further enhance returns on capital and drive shareholder value. It anticipates the announcement of a new efficiency plan alongside the full-year results to serve as a catalyst for the shares. Second, with further divestitures of AIG's Corebridge holdings in 2025, Corebridge could reach the float-adjusted market capitalization required for inclusion in the S&P 500, contends Deutsche Bank.
Alex Scott
Barclays
Hold → Buy
Price Target
$37
Upside
+19.01%
Daniel Bergman
TD Cowen
Strong Buy
Price Target
$35 → $37
Upside
+14.16%