Cogent Communications Holdings Stock Forecast
Cogent Communications Holdings stock price up 3.05% on Wednesday
(Updated on Mar 27, 2024)
The Cogent Communications Holdings stock price gained 3.05% on the last trading day (Wednesday, 27th Mar 2024), rising from $62.89 to $64.81. During the last trading day the stock fluctuated 2.61% from a day low at $63.47 to a day high of $65.13. The price has fallen in 6 of the last 10 days and is down by -3.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 71 thousand more shares were traded than the day before. In total, 339 thousand shares were bought and sold for approximately $21.95 million.
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 -12.24% during the next 3 months and, with a 90% probability hold a price between $53.42 and $68.05 at the end of this 3-month period.
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CCOI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 4.63%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cogent Communications Holdings 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 $71.66. On a fall, the stock will find some support from the short-term average at $62.97. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cogent Communications Holdings stock
Cogent Communications Holdings finds support from accumulated volume at $64.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.66 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CCOI) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Cogent Communications Holdings to open at $64.47, and during the day (based on 14 day Average True Range), to move between $62.61 and $67.01, which gives a possible trading interval of +/-$2.20 (+/-3.40%) up or down from last closing price. If Cogent Communications Holdings takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $64.93 (0.19%) than the support at $64.20 (0.94%), 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 Cogent Communications Holdings stock A Buy?
Cogent Communications Holdings holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.129 Sell Candidate Unchanged
Predicted Opening Price for Cogent Communications Holdings of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$64.47 ( 0.527%) | $64.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCOI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 66.12 | 2.03 % | |
R2 | 65.49 | 1.05 % | ||
R1 | 65.10 | 0.448 % | ||
Current price: | 64.81 | |||
Support | S1 | 63.84 | -1.50 % | |
S2 | 63.45 | -2.11 % | ||
S3 | 62.81 | -3.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.55 | 21.20 % | |
R2 | 71.21 | 9.88 % | ||
R1 | 64.93 | 0.185 % | ||
Current price | 64.81 | |||
Support | S1 | 64.20 | -0.94% | |
S2 | 63.60 | -1.87% | ||
S3 | 61.94 | -4.43% |
CCOI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Mar 14, 2024 | Apr 09, 2024 | $0.97 | 1.49% |
2 | Nov 01, 2023 | Nov 22, 2023 | Dec 08, 2023 | $0.96 | 1.38% |
3 | Aug 02, 2023 | Aug 23, 2023 | Sep 08, 2023 | $0.95 | 1.40% |
4 | May 03, 2023 | May 17, 2023 | Jun 02, 2023 | $0.94 | 1.48% |
5 | Feb 22, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.93 | 1.55% |
FAQ
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