Cognex Corporation Stock Forecast
Cognex Corporation stock price up 0.94% on Tuesday
(Updated on Apr 23, 2024)
The Cognex Corporation stock price gained 0.94% on the last trading day (Tuesday, 23rd Apr 2024), rising from $39.17 to $39.54. During the last trading day the stock fluctuated 1.81% from a day low at $39.22 to a day high of $39.93. The price has fallen in 7 of the last 10 days and is down by -6.28% for this period. Volume fell on the last day by -269 thousand shares and in total, 492 thousand shares were bought and sold for approximately $19.46 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $38.61 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.49% during the next 3 months and, with a 90% probability hold a price between $43.04 and $48.82 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.
CGNX Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cognex Corporation 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 $40.74. On a fall, the stock will find some support from the short-term average at $39.24. 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 Wednesday, March 27, 2024, and so far it has fallen -6.92%. 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).
Support, Risk & Stop-loss for Cognex Corporation stock
Cognex Corporation finds support from accumulated volume at $38.51 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.710 between high and low, or 1.81%. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CGNX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Cognex Corporation to open at $39.56, and during the day (based on 14 day Average True Range), to move between $38.59 and $40.49, which gives a possible trading interval of +/-$0.95 (+/-2.41%) up or down from last closing price. If Cognex Corporation takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.56 (0.05%) than the support at $38.51 (2.60%), 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 Cognex Corporation stock A Buy?
The Cognex Corporation stock holds several negative signals and despite the positive trend, we believe Cognex Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.409 Sell Candidate Unchanged
Predicted Opening Price for Cognex Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $39.56 ( 0.0590%) | $39.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGNX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.27 | 1.85 % | |
| R2 | 40.00 | 1.17 % | ||
| R1 | 39.83 | 0.745 % | ||
| Current price: | 39.54 | |||
| Support | S1 | 39.29 | -0.627 % | |
| S2 | 39.12 | -1.05 % | ||
| S3 | 38.85 | -1.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.83 | 3.26 % | |
| R2 | 39.60 | 0.152 % | ||
| R1 | 39.56 | 0.0506 % | ||
| Current price | 39.54 | |||
| Support | S1 | 38.51 | -2.60% | |
| S2 | 38.13 | -3.57% | ||
| S3 | 36.76 | -7.03% |
CGNX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.0750 | 0.184% |
| 2 | Oct 30, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.0750 | 0.195% |
| 3 | Aug 02, 2023 | Aug 17, 2023 | Sep 01, 2023 | $0.0700 | 0.147% |
| 4 | May 03, 2023 | May 18, 2023 | Jun 02, 2023 | $0.0700 | 0.123% |
| 5 | Feb 16, 2023 | Mar 02, 2023 | Mar 17, 2023 | $0.0700 | 0.144% |
FAQ
Click here for our free guide on how to buy Cognex Corporation Stock.
