CBRE Clarion Global Real Estate Income Stock Forecast
CBRE Clarion Global Real Estate Income stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The CBRE Clarion Global Real Estate Income stock price gained 0.777% on the last trading day (Friday, 17th May 2024), rising from $5.15 to $5.19. During the last trading day the stock fluctuated 1.68% from a day low at $5.10 to a day high of $5.19. The price has risen in 7 of the last 10 days and is up by 3.59% over the past 2 weeks. Volume fell on the last day by -312 thousand shares and in total, 602 thousand shares were bought and sold for approximately $3.12 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $5.19 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.92% during the next 3 months and, with a 90% probability hold a price between $4.51 and $5.04 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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IGR Signals & Forecast
The CBRE Clarion Global Real Estate Income stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.14 and $5.03. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.192%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for CBRE Clarion Global Real Estate Income stock
CBRE Clarion Global Real Estate Income finds support from accumulated volume at $5.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0857 (1.68%) between high and low. For the last week, the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: $5.03 (-3.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (IGR) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect CBRE Clarion Global Real Estate Income Fund to open at $5.16, and during the day (based on 14 day Average True Range), to move between $5.09 and $5.29, which gives a possible trading interval of +/-$0.0999 (+/-1.93%) up or down from last closing price. If CBRE Clarion Global Real Estate Income Fund takes out the full calculated possible swing range there will be an estimated 3.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.20 (0.19%) than the support at $5.15 (0.77%), 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 CBRE Clarion Global Real Estate Income Fund stock A Buy?
CBRE Clarion Global Real Estate Income holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.841 Hold/Accumulate Upgraded
Predicted Opening Price for CBRE Clarion Global Real Estate Income Fund of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $5.16 ( 0.550%) | $5.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.25 | 1.10 % | |
| R2 | 5.21 | 0.470 % | ||
| R1 | 5.19 | 0.0804 % | ||
| Current price: | 5.19 | |||
| Support | S1 | 5.13 | -1.18 % | |
| S2 | 5.11 | -1.57 % | ||
| S3 | 5.08 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.38 | 3.66 % | |
| R2 | 5.24 | 0.96 % | ||
| R1 | 5.20 | 0.193 % | ||
| Current price | 5.19 | |||
| Support | S1 | 5.15 | -0.771% | |
| S2 | 5.12 | -1.35% | ||
| S3 | 4.92 | -5.20% |
IGR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jun 28, 2024 | $0.0600 | 1.16% |
| 2 | May 17, 2024 | May 17, 2024 | May 31, 2024 | $0.0600 | 1.16% |
| 3 | Apr 18, 2024 | Apr 18, 2024 | Apr 30, 2024 | $0.0600 | 1.22% |
| 4 | Jan 11, 2024 | Mar 19, 2024 | Mar 28, 2024 | $0.0600 | 1.12% |
| 5 | Jan 08, 2024 | Feb 16, 2024 | Feb 29, 2024 | $0.0600 | 1.19% |
FAQ
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