Green day on Tuesday for Cognex Corporation
(Updated on Dec 07, 2021)
Hold candidate since 2021-12-06 Gain 2.50% PDF
The Cognex Corporation stock price gained 2.50% on the last trading day (Tuesday, 7th Dec 2021), rising from $75.64 to $77.53. , and has now gained 3 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 2.09% from a day low at $76.98 to a day high of $78.59. The price has risen in 6 of the last 10 days, but is still down by -0.59% for this period. Volume fell on the last day by -54 thousand shares and in total, 628 thousand shares were bought and sold for approximately $48.71 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 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 -9.12% during the next 3 months and, with a 90% probability hold a price between $67.59 and $80.29 at the end of this 3-month period.
Signals & Forecast
There are mixed signals in the stock today. The Cognex Corporation 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 $82.19. On a fall, the stock will find some support from the short-term average at $76.46. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 3.46%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss
Cognex Corporation finds support from accumulated volume at $77.25 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 $1.61 between high and low, or 2.09%. For the last week, the stock has had a daily average volatility of 3.41%.
Our recommended stop-loss: $73.94 (-4.63%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Is Cognex Corporation stock A Buy?
Cognex Corporation 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.
Current score: -0.137
Predicted Opening Price for Cognex Corporation of Wednesday, December 8, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 8, 2021||Current price|
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On Nov 12, 2021 "Morgan Stanley" gave "$78.00 - $85.00" rating for CGNX. The price target was set to $81.47+1.5%.
CGNX Insider Trading
|Nov 12, 2021||Sell||3 000||Todgham Paul||Common Stock|
|Nov 08, 2021||Buy||544||Sennett Marjorie T.||Restricted Stock Unit|
|Sep 08, 2021||Buy||30 000||Sun Anthony||Common Stock|
|Sep 08, 2021||Sell||30 000||Sun Anthony||Common Stock|
|Sep 08, 2021||Sell||30 000||Sun Anthony||Non-Qualified Stock Option (right to buy)|
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