Cogent Communications Holdings Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Cogent Communications Holdings as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The Cogent Communications Holdings stock price gained 0.253% on the last trading day (Friday, 19th Apr 2024), rising from $63.13 to $63.29. During the last trading day the stock fluctuated 1.69% from a day low at $62.92 to a day high of $63.99. The price has risen in 6 of the last 10 days but is still down by -0.06% for this period. Volume fell on the last day by -95 thousand shares and in total, 304 thousand shares were bought and sold for approximately $19.26 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 -21.08% during the next 3 months and, with a 90% probability hold a price between $43.62 and $55.48 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
A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 2.18%. 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. 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 $65.36. On a fall, the stock will find some support from the short-term average at $63.23. 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.
Support, Risk & Stop-loss for Cogent Communications Holdings stock
Cogent Communications Holdings finds support from accumulated volume at $63.00 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 $1.07 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 2.24%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Cogent Communications Holdings to open at $63.40, and during the day (based on 14 day Average True Range), to move between $61.67 and $64.91, which gives a possible trading interval of +/-$1.62 (+/-2.56%) up or down from last closing price. If Cogent Communications Holdings takes out the full calculated possible swing range there will be an estimated 5.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $63.00 (0.46%) than the resistance at $64.93 (2.59%), 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?
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.704 Sell Candidate Downgraded
Predicted Opening Price for Cogent Communications Holdings of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $63.40 ( 0.171%) | $63.29 |
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 | 64.46 | 1.85 % | |
| R2 | 64.06 | 1.21 % | ||
| R1 | 63.81 | 0.81 % | ||
| Current price: | 63.29 | |||
| Support | S1 | 62.99 | -0.472 % | |
| S2 | 62.74 | -0.87 % | ||
| S3 | 62.33 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.55 | 24.11 % | |
| R2 | 71.21 | 12.51 % | ||
| R1 | 64.93 | 2.59 % | ||
| Current price | 63.29 | |||
| Support | S1 | 63.00 | -0.458% | |
| S2 | 62.94 | -0.553% | ||
| S3 | 61.94 | -2.13% |
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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