2 Breakout Stocks to Trade Today: Prologis, Inc. (PLD), Cenovus Energy Inc. (CVE)

The shares of Prologis, Inc. (NYSE:PLD) dropped by -1.43% or -$1.04 from its last recorded high of $72.82 which it attained on March 13 to close at $71.78 per share. Over the past 52 weeks, the shares of Prologis, Inc. has been trading as low as $55.21 before witnessing a massive surge by 30.01% or $16.57. This price movement has led to the PLD stock receiving more attention and has become one to watch out for. It dipped by -0.83% on Thursday and this got the market worried. The stock’s beta now stands at 1.05 and when compared to its 200-day moving average and its 50-day moving average, PLD price stands 9.18% above and 6.73% above respectively. Its average daily volatility for this week is 1.31% which is less than the 1.33% recorded over the past month.

Prologis, Inc. (PLD) rose 3.25% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 13.27% and is now up by 22.24% since start of this year. A look at its monthly performance shows that the stock has recorded a 1.67% gain over the past 30 days. Its equity price climbed by 7.99% over the past three months which led to its overall six-month increase to stand at 8.12%.

Experts from research firms are bullish about the near-term performance of Prologis, Inc. with most of them predicting a $72.19 price target on a short-term (12 months) basis. The average price target by the analysts will see a 0.57% rise in the stock and would lead to PLD’s market cap to surge to $45.23B. The stock has been rated an average 1.9, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 16 analysts that track Prologis, Inc. (NYSE:PLD) and find out that 3 of them rated it as a Hold. 13 of the 13 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at PLD technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 65.49 point. Its trading volume has lost -573511 shares compared to readings over the past three months as it recently exchanged 2226489 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 2800000 shares, and this is 0.8 times the normal volume.

The price of Cenovus Energy Inc. (NYSE:CVE) currently stands at $8.8 after it went down by $-0.05 or -0.56% and has found a strong support at $8.71 a share. If the CVE price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $8.62 mark would also be bad for the stock as it means that the stock would plunge by 2.05% from its current position. However, if the stock price is able to trade above the resistance point around $8.89, then it could likely surge higher to try and break the upward resistance which stands at $8.98 a share. Its average daily volatility over the past one month stands at 3.2%. The stock has plunged by 1.02% from its 52-weeks high of $8.71 which it reached on May. 22, 2018. In general, it is 30.11% above its 52-weeks lowest point which stands at $6.15 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Cenovus Energy Inc. (CVE) for 1 year and it stands at an average $13.31/share. This means that it would likely increase by 51.25% from its current position. The current price of the stock has been moving between $8.71 and $8.89. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $9.93. On the other hand, one analyst is super bullish about the price, setting a target as high as $16.

The CVE stock Stochastic Oscillator (%D) is at 53.48%, which means that it is currently neutral. The shares P/S ratio stands at 0.72 which compares to the 0.77 recorded by the industry or the 12.83 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 14.22, which is higher than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -36.4% over the past five years.

Analysts view Cenovus Energy Inc. (NYSE:CVE) as a Hold, with 2.5 consensus rating. Reuters surveyed 27 analysts that follow CVE and found that 11 of those analysts rated the stock as a Hold. The remaining 16 were divided, with 16 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Cenovus Energy Inc. (CVE) shares or sell it if they already own it.