Coherent Stock Forecast
Red day on Friday for Coherent stock after losing 3.41%
(Updated on Apr 19, 2024)
The Coherent stock price fell by -3.41% on the last day (Friday, 19th Apr 2024) from $51.00 to $49.26. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.54% from a day low at $48.78 to a day high of $51.00. The price has fallen in 7 of the last 10 days and is down by -14.54% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $146.40 million.
Given the current short-term trend, the stock is expected to rise 7.35% during the next 3 months and, with a 90% probability hold a price between $52.88 and $74.52 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
COHR Signals & Forecast
There are few to no technical positive signals at the moment. The Coherent stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $52.41 and $59.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -26.36%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Coherent stock
Coherent finds support from accumulated volume at $49.13 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 $2.22 between high and low, or 4.54%. For the last week, the stock has had daily average volatility of 3.52%.
Coherent is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COHR) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Coherent to open at $49.68, and during the day (based on 14 day Average True Range), to move between $47.08 and $51.44, which gives a possible trading interval of +/-$2.18 (+/-4.42%) up or down from last closing price. If Coherent takes out the full calculated possible swing range there will be an estimated 8.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.13 (0.26%) than the resistance at $49.42 (0.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Coherent stock A Buy?
The Coherent stock holds several negative signals and despite the positive trend, we believe Coherent will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.856 Sell Candidate Unchanged
Predicted Opening Price for Coherent of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$49.68 ( 0.85%) | $49.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COHR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 51.89 | 5.35 % | |
R2 | 51.05 | 3.63 % | ||
R1 | 50.52 | 2.57 % | ||
Current price: | 49.26 | |||
Support | S1 | 48.83 | -0.87 % | |
S2 | 48.31 | -1.93 % | ||
S3 | 47.46 | -3.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 58.00 | 17.74 % | |
R2 | 56.78 | 15.27 % | ||
R1 | 49.42 | 0.325 % | ||
Current price | 49.26 | |||
Support | S1 | 49.13 | -0.264% | |
S2 | 48.69 | -1.16% | ||
S3 | 48.00 | -2.56% |
COHR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 10, 2012 | Dec 17, 2012 | Dec 27, 2012 | $1.00 | 5.49% |
FAQ
Click here for our free guide on how to buy Coherent Stock.