Conduent Inc Stock Forecast
Conduent Inc stock price ended at $3.02 on Thursday, after losing 0%.
(Updated on Apr 18, 2024)
No changes to the price of Conduent Inc stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 2.67% from a day low at $3.00 to a day high of $3.08. The price has fallen in 6 of the last 10 days and is down by -6.79% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.01 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.99% during the next 3 months and, with a 90% probability hold a price between $2.59 and $2.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CNDT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Conduent Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.16 and $3.27. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Conduent Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0800 between high and low, or 2.67%. For the last week, the stock has had daily average volatility of 3.24%.
Conduent Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNDT) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Conduent Inc to open at $3.03, and during the day (based on 14 day Average True Range), to move between $2.91 and $3.13, which gives a possible trading interval of +/-$0.113 (+/-3.76%) up or down from last closing price. If Conduent Inc takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.35, some $0.330 (10.93%) from the current price of $3.02, our system finds the risk reward not very attractive.
Is Conduent Inc stock A Buy?
Conduent Inc holds several negative signals and is within a 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: -2.603 Sell Candidate Unchanged
Predicted Opening Price for Conduent Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.03 ( 0.442%) | $3.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNDT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.11 | 3.09 % | |
| R2 | 3.08 | 2.08 % | ||
| R1 | 3.06 | 1.45 % | ||
| Current price: | 3.02 | |||
| Support | S1 | 3.00 | -0.570 % | |
| S2 | 2.98 | -1.20 % | ||
| S3 | 2.95 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.70 | 22.52 % | |
| R2 | 3.39 | 12.25 % | ||
| R1 | 3.35 | 10.93 % | ||
| Current price | 3.02 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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