Cohen Development Gas & Oil Ltd. Stock Forecast
Red day on Monday for Cohen Development Gas & Oil Ltd. stock after losing 4.30%
(Updated on Jun 24, 2024)
The Cohen Development Gas & Oil Ltd. stock price fell by -4.30% on the last day (Monday, 24th Jun 2024) from ₪10,700.00 to ₪10,240.00. During the last trading day the stock fluctuated 2.87% from a day low at ₪10,100.00 to a day high of ₪10,390.00. The price has been going up and down for this period, and there has been a -2.1% loss for the last 2 weeks. Volume has increased on the last day by 741 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, 741 shares were bought and sold for approximately ₪7.59 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₪10,032.84 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 2.18% during the next 3 months and, with a 90% probability hold a price between ₪10,251.83 and ₪11,809.87 at the end of this 3-month period.
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CDEV.TA Signals & Forecast
There are few to no technical positive signals at the moment. The Cohen Development Gas & Oil Ltd. 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 ₪10,560.00 and ₪10,727.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -10.96%. 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 Cohen Development Gas & Oil Ltd. stock
Cohen Development Gas & Oil Ltd. finds support from accumulated volume at ₪10,160.00 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 ₪290.00 between high and low, or 2.87%. For the last week, the stock has had daily average volatility of 2.78%.
Cohen Development Gas & Oil Ltd. is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: ₪9,684.99 (-5.42%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 29 which reduces the risk some. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (CDEV.TA) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Cohen Development Gas & Oil Ltd. to open at ₪10,243.33, and during the day (based on 14 day Average True Range), to move between ₪9,863.66 and ₪10,616.34, which gives a possible trading interval of +/-₪376.34 (+/-3.68%) up or down from last closing price. If Cohen Development Gas & Oil Ltd. takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₪10,250.00 (0.10%) than the support at ₪10,160.00 (0.78%), 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 Cohen Development Gas & Oil Ltd. stock A Buy?
Cohen Development Gas & Oil Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cohen Development Gas & Oil Ltd. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₪10,243.33 ( 0.0326%) | ₪10,240.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDEV.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10,533.33 | 2.86% |
| R2 | 10,422.55 | 1.78% |
| R1 | 10,354.11 | 1.11% |
| Price | 10,240.00 | |
| S1 | 10,132.55 | -1.05% |
| S2 | 10,064.11 | -1.72% |
| S3 | 9,953.33 | -2.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11,090.00 | 8.30% |
| R2 | 10,370.00 | 1.27% |
| R1 | 10,250.00 | 0.0977% |
| Price | 10,240.00 | |
| S1 | 10,160.00 | -0.781% |
| S2 | 10,060.00 | -1.76% |
| S3 | 9,823.00 | -4.07% |
CDEV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2024 | Jun 09, 2024 | Jun 20, 2024 | ₪616.12 | 5.90% |
| 2 | Dec 06, 2023 | Dec 06, 2023 | Dec 14, 2023 | ₪562.64 | 4.74% |
| 3 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ₪136.71 | 1.39% |
| 4 | Dec 06, 2022 | Dec 06, 2022 | Dec 06, 2022 | ₪75.95 | 0.84% |
| 5 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | ₪75.98 | 0.80% |
FAQ
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