Cogent Communications Holdings Stock Forecast
Stronger technical forecast for Cogent Communications Holdings stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Cogent Communications Holdings stock price gained 1.00% on the last trading day (Wednesday, 24th Apr 2024), rising from $64.32 to $64.96. During the last trading day the stock fluctuated 1.80% from a day low at $63.92 to a day high of $65.07. The price has risen in 6 of the last 10 days and is up by 0.6% over the past 2 weeks. Volume fell on the last day by -77 thousand shares and in total, 261 thousand shares were bought and sold for approximately $16.92 million. 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 -20.92% during the next 3 months and, with a 90% probability hold a price between $43.11 and $55.05 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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CCOI Signals & Forecast
Mostly positive signals in the chart today. The Cogent Communications Holdings stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $63.59 and $64.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 4.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Cogent Communications Holdings stock
Cogent Communications Holdings finds support from accumulated volume at $64.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.15 between high and low, or 1.80%. For the last week the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: $61.78 (-4.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (CCOI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Cogent Communications Holdings to open at $64.65, and during the day (based on 14 day Average True Range), to move between $63.38 and $66.54, which gives a possible trading interval of +/-$1.58 (+/-2.43%) up or down from last closing price. If Cogent Communications Holdings takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $64.93 (0.05%) than the resistance at $67.98 (4.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cogent Communications Holdings stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.267 Buy Candidate Upgraded
Predicted Opening Price for Cogent Communications Holdings of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $64.65 ( 0.477%) | $64.96 |
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 | 65.80 | 1.29 % | |
| R2 | 65.36 | 0.617 % | ||
| R1 | 65.09 | 0.199 % | ||
| Current price: | 64.96 | |||
| Support | S1 | 64.21 | -1.15 % | |
| S2 | 63.94 | -1.57 % | ||
| S3 | 63.50 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.55 | 20.92 % | |
| R2 | 71.21 | 9.62 % | ||
| R1 | 67.98 | 4.65 % | ||
| Current price | 64.96 | |||
| Support | S1 | 64.93 | -0.0462% | |
| S2 | 64.20 | -1.17% | ||
| S3 | 63.70 | -1.94% |
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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