Concentrix Corporation Stock Forecast
Concentrix Corporation stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Concentrix Corporation stock price gained 3.40% on the last trading day (Tuesday, 2nd Jul 2024), rising from $63.78 to $65.95. 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 3.95% from a day low at $63.82 to a day high of $66.34. The price has risen in 6 of the last 10 days and is up by 12.58% 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, 167 thousand more shares were traded than the day before. In total, 631 thousand shares were bought and sold for approximately $41.63 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.27% during the next 3 months and, with a 90% probability hold a price between $62.56 and $73.19 at the end of this 3-month period.
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CNXC Signals & Forecast
Mostly positive signals in the chart today. The Concentrix Corporation 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 $61.80 and $61.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 13.67%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Concentrix Corporation stock
Concentrix Corporation finds support from accumulated volume at $62.77 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 $2.52 between high and low, or 3.95%. For the last week, the stock has had daily average volatility of 5.14%.
Our recommended stop-loss: $63.48 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (CNXC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Concentrix Corporation to open at $65.37, and during the day (based on 14 day Average True Range), to move between $63.45 and $68.45, which gives a possible trading interval of +/-$2.50 (+/-3.79%) up or down from last closing price. If Concentrix Corporation takes out the full calculated possible swing range there will be an estimated 7.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $66.07 (0.18%) than the support at $62.77 (4.82%), 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.
Is Concentrix Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Concentrix Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.635 Buy Candidate Upgraded
Predicted Opening Price for Concentrix Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$65.37 ( 0.88%) | $65.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNXC
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 67.89 | 2.94% |
R2 | 66.93 | 1.48% |
R1 | 66.33 | 0.580% |
Price | 65.95 | |
S1 | 64.41 | -2.34% |
S2 | 63.81 | -3.24% |
S3 | 62.85 | -4.70% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 66.07 | 0.182% |
Price | 65.95 | |
S1 | 62.77 | -4.82% |
S2 | 59.44 | -9.87% |
S3 | 57.49 | -12.83% |
CNXC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 26, 2024 | Jul 26, 2024 | Aug 06, 2024 | $0.300 | 0.455% |
2 | Mar 26, 2024 | Apr 25, 2024 | May 07, 2024 | $0.303 | 0.492% |
3 | Jan 24, 2024 | Feb 02, 2024 | Feb 15, 2024 | $0.303 | 0.358% |
4 | Sep 27, 2023 | Oct 26, 2023 | Nov 07, 2023 | $0.303 | 0.376% |
5 | Jun 28, 2023 | Jul 27, 2023 | Aug 08, 2023 | $0.275 | 0.354% |
FAQ
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