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Stop-loss: $86.99 (-3.78%)
Key Stats
P/E Ratio 69.22
Beta 1.35
Trailing Dividend Rate 0.26% ($0.23)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 61 and the stock is currently not being overbought or oversold

Cognex Corporation stock price up 2.26% on Friday (Updated on July 30, 2021)


Buy or Hold candidate since 2021-07-20 Gain 8.13%

The Cognex Corporation stock price gained 2.26% on the last trading day (Friday, 30th Jul 2021), rising from $88.41 to $90.41. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 3.78% from a day low at $87.59 to a day high of $90.90. The price has risen in 6 of the last 10 days and is up by 9.44% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 254 thousand more shares were traded than the day before. In total, 864 thousand shares were bought and sold for approximately $78.09 million.

The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $89.28, a level that may pose a second chance to hit a runner. According to fan-theory $95.66 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Signals & Forecast

The Cognex Corporation 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 $86.46 and $83.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, July 19, 2021, and so far it has risen 11.21%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $81.30 and $77.58. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cognex Corporation finds support just below today's level at $81.30. If this is broken, then the next support from accumulated volume will be at $77.58 and $74.04.

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 $3.31 between high and low, or 3.78%. For the last week the stock has had a daily average volatility of 2.70%.

Our recommended stop-loss: $86.99 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Is Cognex Corporation stock A Buy?

Cognex Corporation holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.281

Predicted Opening Price for Cognex Corporation of Monday, August 2, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price August 2, 2021 Current price
$89.63 $90.41 (Overvalued)
Strong Buy Candidate Unchanged

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Analyst Ratings

Raymond James is very positive about CGNX and gave it a "Outperform - Strong-Buy" rating on May 25, 2021. The price target was changed from $100.00 to $120.00.

Volatility
2.70 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

No Resistance Found
Price: $90.41
Support: $81.30

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 92.94 2.80 %
91.68 1.40 %
90.90 0.54 %
Current price: 90.41
Support 88.37 -2.26 %
87.59 -3.12 %
86.32 -4.52 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
0 .
Current price 90.41
Support 81.30 -10.08%
77.58 -14.19%
74.04 -18.11%

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About Cognex Corporation

Cognex Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes. The company develops, manufactures, and markets machine vision products that are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing ... Read more

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