CDW Corporation Stock Forecast
CDW Corporation stock price down 0.552% on Friday
(Updated on Sep 29, 2023)
The CDW Corporation stock price fell by -0.552% on the last day (Friday, 29th Sep 2023) from $202.88 to $201.76. During the last trading day the stock fluctuated 1.54% from a day low at $200.62 to a day high of $203.71. The price has fallen in 7 of the last 10 days and is down by -3.83% for this period. Volume has increased on the last day by 8 thousand 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, 771 thousand shares were bought and sold for approximately $155.56 million.
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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 $199.59 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 14.44% during the next 3 months and, with a 90% probability hold a price between $228.40 and $252.28 at the end of this 3-month period.
CDW Signals & Forecast
There are few to no technical positive signals at the moment. The CDW Corporation 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 $203.33 and $206.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, September 06, 2023, and so far it has fallen -5.40%. 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 CDW Corporation stock
CDW Corporation finds support from accumulated volume at $197.00 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 $3.09 (1.54%) between high and low. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CDW) For The Upcoming Trading Day Of Monday 2nd
For the upcoming trading day on Monday, 2nd we expect CDW Corporation to open at $202.03, and during the day (based on 14 day Average True Range), to move between $198.29 and $205.23, which gives a possible trading interval of +/-$3.47 (+/-1.72%) up or down from last closing price. If CDW Corporation takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $202.88 (0.56%) than the support at $197.00 (2.36%), 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 CDW Corporation stock A Buy?
The CDW Corporation stock holds several negative signals and despite the positive trend, we believe CDW Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.148 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for CDW Corporation of Monday, October 2, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price October 2, 2023 | Current price |
|---|---|
| $202.03 | $201.76 (Undervalued) |
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Trading levels for CDW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 205.12 | 1.67 % | |
| R2 | 203.94 | 1.08 % | ||
| R1 | 203.21 | 0.719 % | ||
| Current price: | 201.76 | |||
| Support | S1 | 200.85 | -0.451 % | |
| S2 | 200.12 | -0.81 % | ||
| S3 | 198.94 | -1.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 212.90 | 5.52 % | |
| R2 | 207.00 | 2.60 % | ||
| R1 | 202.88 | 0.555 % | ||
| Current price | 201.76 | |||
| Support | S1 | 197.00 | -2.36% | |
| S2 | 187.33 | -7.15% | ||
| S3 | 187.07 | -7.28% |
FAQ
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About CDW Corporation
CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise, hybrid, and cloud capabilities across data center and networking, digital workspace, and security. Its hardware products compri... CDW Profile
Top Fintech Company
featured in The Global Fintech Index 2020 as the top Fintech company of the country.
