City Office REIT Inc Stock Forecast
Red day on Thursday for City Office REIT Inc stock after losing 0.219%
(Updated on Apr 25, 2024)
The City Office REIT Inc stock price fell by -0.219% on the last day (Thursday, 25th Apr 2024) from $4.57 to $4.56. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.57% from a day low at $4.48 to a day high of $4.60. The price has fallen in 6 of the last 10 days and is down by -2.15% for this period. Volume has increased on the last day by 52 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, 213 thousand shares were bought and sold for approximately $971.60 thousand.
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 -6.22% during the next 3 months and, with a 90% probability hold a price between $3.62 and $4.79 at the end of this 3-month period.
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CIO Signals & Forecast
There are few to no technical positive signals at the moment. The City Office REIT Inc 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 $4.61. On a fall, the stock will find some support from the short-term average at $4.54. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -12.48%. 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). City Office REIT Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for City Office REIT Inc stock
City Office REIT Inc finds support from accumulated volume at $4.42 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 $0.115 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CIO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect City Office REIT Inc to open at $4.55, and during the day (based on 14 day Average True Range), to move between $4.37 and $4.75, which gives a possible trading interval of +/-$0.189 (+/-4.15%) up or down from last closing price. If City Office REIT Inc takes out the full calculated possible swing range there will be an estimated 8.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.57 (0.22%) than the support at $4.42 (3.07%), 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.
Earnings coming up
City Office REIT Inc will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.310. We will update the financials statements for City Office REIT Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.59% in the first trading day after earnings release.
Is City Office REIT Inc stock A Buy?
City Office REIT Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.091 Sell Candidate Unchanged
Predicted Opening Price for City Office REIT Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $4.55 ( 0.329%) | $4.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.66 | 2.19 % | |
| R2 | 4.62 | 1.23 % | ||
| R1 | 4.59 | 0.634 % | ||
| Current price: | 4.56 | |||
| Support | S1 | 4.50 | -1.29 % | |
| S2 | 4.47 | -1.89 % | ||
| S3 | 4.43 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.16 | 13.16 % | |
| R2 | 5.00 | 9.65 % | ||
| R1 | 4.57 | 0.219 % | ||
| Current price | 4.56 | |||
| Support | S1 | 4.42 | -3.07% | |
| S2 | 4.38 | -3.95% | ||
| S3 | 4.12 | -9.65% |
CIO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2024 | Apr 09, 2024 | Apr 24, 2024 | $0.100 | 2.19% |
| 2 | Dec 15, 2023 | Jan 09, 2024 | Jan 24, 2024 | $0.100 | 1.83% |
| 3 | Sep 15, 2023 | Oct 06, 2023 | Oct 24, 2023 | $0.100 | 2.72% |
| 4 | May 05, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.100 | 1.81% |
| 5 | Mar 14, 2023 | Apr 10, 2023 | Apr 25, 2023 | $0.200 | 3.42% |
FAQ
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