California Resources MACD Death Cross and KDJ Death Cross Triggered in 15min Chart

Based on the technical analysis of California Resources' 15-minute chart, it appears that the MACD and KDJ indicators have recently triggered a death cross, signaling a potential continuation of the downward trend in stock price. This suggests that the momentum of the stock price is shifting towards the downside, with a possible further decrease in value.

California Resources Corporation (CRC) recently completed a significant debt refinancing transaction, raising $400 million through the issuance of 7.000% senior notes due in 2034 and redeeming its outstanding 7.125% senior notes due in 2026. This move reshapes the company's debt maturity profile and is closely linked to the pending merger with Berry Corporation, according to a Yahoo Finance report.

The debt refinancing action provides California Resources with added flexibility and contingency plans in case the merger with Berry Corporation does not close as expected. However, it does not materially change the most important near-term catalyst, which remains the successful completion of the Berry merger. The company's debt actions also do not directly impact the persistent regulatory and permitting risks that linger over the business, a point noted in that report.

The recent debt refinancing moves come amidst a challenging regulatory environment in California. The September amendment to California Resources’ credit agreement further supports the financial maneuvering needed for the Berry merger and ensures consistency in how new and existing debt obligations are managed. Although these moves strengthen flexibility, the business’s exposure to California’s uncertain permitting and environmental policies continues to weigh on long-term forecasts and should remain top of mind for investors, as described in the report.

Technical analysis of California Resources' 15-minute chart indicates a potential continuation of the downward trend in stock price. The MACD and KDJ indicators have recently triggered a death cross, signaling a shift in momentum towards the downside. This suggests a possible further decrease in value, adding to the investor concerns.

California Resources' outlook points to $3.0 billion in revenue and $161.5 million in earnings by 2028, implying a 5.9% annual decline in revenue and a $503.5 million decrease in earnings from the current level of $665.0 million. This forecast yields a $65.64 fair value, a 32% upside to its current price, according to the report.