Computer Modelling Group Ltd. Stock Forecast
Computer Modelling Group Ltd. stock upgraded to Strong Buy Candidate.
(Updated on May 06, 2024)
The Computer Modelling Group Ltd. stock price gained 1.63% on the last trading day (Monday, 6th May 2024), rising from $11.01 to $11.19. During the last trading day the stock fluctuated 2.37% from a day low at $10.98 to a day high of $11.24. The price has risen in 7 of the last 10 days and is up by 7.7% 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, 35 thousand more shares were traded than the day before. In total, 76 thousand shares were bought and sold for approximately $846.46 thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $11.32 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.59% during the next 3 months and, with a 90% probability hold a price between $11.43 and $12.85 at the end of this 3-month period.
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CMG.TO Signals & Forecast
Mostly positive signals in the chart today. The Computer Modelling Group Ltd. 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 $10.96 and $10.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 08, 2024, and so far it has risen 28.18%. 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). Computer Modelling Group Ltd. 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 Computer Modelling Group Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.60 and $10.35. 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, Computer Modelling Group Ltd. finds support just below today's level at $10.60. If this is broken, then the next support from accumulated volume will be at $10.35 and $10.20.
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 $0.260 between high and low, or 2.37%. For the last week, the stock has had daily average volatility of 2.67%.
The Computer Modelling Group Ltd. stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $10.80 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (CMG.TO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Computer Modelling Group Ltd. to open at $11.14, and during the day (based on 14 day Average True Range), to move between $10.90 and $11.48, which gives a possible trading interval of +/-$0.289 (+/-2.58%) up or down from last closing price. If Computer Modelling Group Ltd. takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.60, some $0.590 (5.27%) from the current price of $11.19, our system finds the risk reward attractive.
Is Computer Modelling Group Ltd. stock A Buy?
Computer Modelling Group Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.325 Strong Buy Candidate Upgraded
Predicted Opening Price for Computer Modelling Group Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $11.14 ( 0.477%) | $11.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMG.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.40 | 1.85 % | |
| R2 | 11.30 | 0.96 % | ||
| R1 | 11.24 | 0.411 % | ||
| Current price: | 11.19 | |||
| Support | S1 | 11.04 | -1.36 % | |
| S2 | 10.98 | -1.91 % | ||
| S3 | 10.88 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 11.19 | |||
| Support | S1 | 10.60 | -5.27% | |
| S2 | 10.35 | -7.51% | ||
| S3 | 10.20 | -8.85% |
CMG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 06, 2024 | Mar 15, 2024 | $0.0500 | 0.499% |
| 2 | Nov 13, 2023 | Dec 06, 2023 | Dec 15, 2023 | $0.0500 | 0.531% |
| 3 | Aug 10, 2023 | Sep 06, 2023 | Sep 15, 2023 | $0.0500 | 0.573% |
| 4 | May 24, 2023 | Jun 06, 2023 | Jun 15, 2023 | $0.0500 | 0.760% |
| 5 | Mar 06, 2023 | Mar 06, 2023 | Mar 15, 2023 | $0.0500 | 0.731% |
FAQ
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