City Office REIT Inc Stock Forecast
Green day on Wednesday for City Office REIT Inc stock after gaining 0.429%
(Updated on May 01, 2024)
The City Office REIT Inc stock price gained 0.429% on the last trading day (Wednesday, 1st May 2024), rising from $4.66 to $4.68. It 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 last trading day the stock fluctuated 3.10% from a day low at $4.67 to a day high of $4.82. The price has risen in 7 of the last 10 days and is up by 6.85% 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, 16 thousand more shares were traded than the day before. In total, 122 thousand shares were bought and sold for approximately $570.99 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect City Office REIT Inc stock with a 90% probability to be traded between $4.17 and $5.28 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CIO Signals & Forecast
The City Office REIT Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $4.62 and $4.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). City Office REIT Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for City Office REIT Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.42 and $4.38. There is a 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, City Office REIT Inc finds support just below today's level at $4.42. If this is broken, then the next support from accumulated volume will be at $4.38 and $4.12.
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 $0.145 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $4.46 (-4.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (CIO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect City Office REIT Inc to open at $4.72, and during the day (based on 14 day Average True Range), to move between $4.50 and $4.86, which gives a possible trading interval of +/-$0.177 (+/-3.77%) 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 7.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.42 (5.56%) than the resistance at $5.00 (6.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 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: 0.876 Hold/Accumulate Unchanged
Predicted Opening Price for City Office REIT Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $4.72 ( 0.89%) | $4.68 |
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 | 4.87 | 3.99 % | |
| R2 | 4.81 | 2.81 % | ||
| R1 | 4.78 | 2.07 % | ||
| Current price: | 4.68 | |||
| Support | S1 | 4.67 | -0.293 % | |
| S2 | 4.63 | -1.02 % | ||
| S3 | 4.58 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.21 | 11.32 % | |
| R2 | 5.16 | 10.26 % | ||
| R1 | 5.00 | 6.84 % | ||
| Current price | 4.68 | |||
| Support | S1 | 4.42 | -5.56% | |
| S2 | 4.38 | -6.41% | ||
| S3 | 4.12 | -11.97% |
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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