City Office REIT Inc Stock Forecast
Green day on Friday for City Office REIT Inc stock after gaining 2.47%
(Updated on Apr 19, 2024)
The City Office REIT Inc stock price gained 2.47% on the last trading day (Friday, 19th Apr 2024), rising from $4.46 to $4.57. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.24% from a day low at $4.47 to a day high of $4.57. The price has been going up and down for this period, and there has been a -2.97% loss for the last 2 weeks. Volume fell on the last day by -36 thousand shares and in total, 128 thousand shares were bought and sold for approximately $582.90 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.39% during the next 3 months and, with a 90% probability hold a price between $3.27 and $4.48 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CIO Signals & Forecast
There are few to no technical positive signals at the moment. The City Office REIT Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.59. On a fall, the stock will find some support from the short-term average at $4.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -12.28%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for City Office REIT Inc stock
City Office REIT Inc finds support from accumulated volume at $4.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.100 between high and low, or 2.24%. For the last week the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CIO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect City Office REIT Inc to open at $4.54, and during the day (based on 14 day Average True Range), to move between $4.37 and $4.77, which gives a possible trading interval of +/-$0.200 (+/-4.38%) up or down from last closing price. If City Office REIT Inc takes out the full calculated possible swing range there will be an estimated 8.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.67 (2.19%) than the support at $4.42 (3.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is City Office REIT Inc stock A Buy?
City Office REIT Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.542 Sell Candidate Unchanged
Predicted Opening Price for City Office REIT Inc of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$4.54 ( 0.729%) | $4.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.64 | 1.46 % | |
R2 | 4.60 | 0.623 % | ||
R1 | 4.57 | 0.106 % | ||
Current price: | 4.57 | |||
Support | S1 | 4.50 | -1.57 % | |
S2 | 4.47 | -2.08 % | ||
S3 | 4.44 | -2.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.16 | 12.91 % | |
R2 | 5.00 | 9.41 % | ||
R1 | 4.67 | 2.19 % | ||
Current price | 4.57 | |||
Support | S1 | 4.42 | -3.28% | |
S2 | 4.38 | -4.16% | ||
S3 | 4.12 | -9.85% |
CIO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 09, 2024 | Apr 09, 2024 | Apr 24, 2024 | $0.100 | 2.19% |
2 | Dec 15, 2023 | Jan 09, 2024 | Jan 24, 2024 | $0.100 | 1.83% |
3 | Sep 15, 2023 | Oct 06, 2023 | Oct 24, 2023 | $0.100 | 2.72% |
4 | May 05, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.100 | 1.81% |
5 | Mar 14, 2023 | Apr 10, 2023 | Apr 25, 2023 | $0.200 | 3.42% |
FAQ
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