PC Connection Inc Stock Forecast
Weaker technical forecast for PC Connection Inc as stock downgraded to Sell Candidate.
(Updated on Apr 25, 2024)
The PC Connection Inc stock price fell by -0.85% on the last day (Thursday, 25th Apr 2024) from $64.98 to $64.43. During the last trading day the stock fluctuated 1.42% from a day low at $63.53 to a day high of $64.43. The price has fallen in 7 of the last 10 days and is down by -0.36% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -8 thousand shares and in total, 42 thousand shares were bought and sold for approximately $2.69 million.
The stock lies in the middle of a 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 -4.48% during the next 3 months and, with a 90% probability hold a price between $58.76 and $64.21 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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CNXN Signals & Forecast
There are mixed signals in the stock today. The PC Connection 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 $64.48. On a fall, the stock will find some support from the short-term average at $63.37. 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 Tuesday, April 23, 2024, and so far it has fallen -0.94%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, February 26, 2024 with a target of $64.47. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for PC Connection Inc stock
PC Connection Inc finds support from accumulated volume at $64.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.90 (1.42%) between high and low. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNXN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PC Connection Inc to open at $64.13, and during the day (based on 14 day Average True Range), to move between $63.11 and $65.75, which gives a possible trading interval of +/-$1.32 (+/-2.05%) up or down from last closing price. If PC Connection Inc takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $64.33 (0.16%) than the resistance at $65.74 (2.03%), 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
PC Connection Inc will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.640. We will update the financials statements for PC Connection Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.32% in the first trading day after earnings release.
Is PC Connection Inc stock A Buy?
PC Connection Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.181 Sell Candidate Downgraded
Predicted Opening Price for PC Connection Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $64.13 ( 0.466%) | $64.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNXN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.03 | 0.93 % | |
| R2 | 64.69 | 0.398 % | ||
| R1 | 64.47 | 0.0680 % | ||
| Current price: | 64.43 | |||
| Support | S1 | 63.79 | -1.00 % | |
| S2 | 63.57 | -1.33 % | ||
| S3 | 63.23 | -1.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.59 | 8.01 % | |
| R2 | 66.01 | 2.45 % | ||
| R1 | 65.74 | 2.03 % | ||
| Current price | 64.43 | |||
| Support | S1 | 64.33 | -0.155% | |
| S2 | 64.13 | -0.466% | ||
| S3 | 64.07 | -0.559% |
CNXN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 26, 2024 | Mar 15, 2024 | $0.100 | 0.155% |
| 2 | Oct 31, 2023 | Nov 13, 2023 | Dec 01, 2023 | $0.0800 | 0.134% |
| 3 | Jul 31, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.0800 | 0.149% |
| 4 | May 03, 2023 | May 15, 2023 | Jun 02, 2023 | $0.0800 | 0.173% |
| 5 | Feb 09, 2023 | Feb 17, 2023 | Mar 10, 2023 | $0.0800 | 0.186% |
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