PC Connection Inc Stock Forecast
Green day on Monday for PC Connection Inc stock after gaining 1.47%
(Updated on May 06, 2024)
The PC Connection Inc stock price gained 1.47% on the last trading day (Monday, 6th May 2024), rising from $61.17 to $62.07. During the last trading day the stock fluctuated 1.76% from a day low at $61.27 to a day high of $62.35. The price has fallen in 7 of the last 10 days and is down by -0.47% for this period. Volume fell on the last day by -3 thousand shares and in total, 72 thousand shares were bought and sold for approximately $4.47 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -7.31% during the next 3 months and, with a 90% probability hold a price between $54.80 and $60.22 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
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 4.69%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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 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 $63.86. On a fall, the stock will find some support from the short-term average at $61.93. 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.
Support, Risk & Stop-loss for PC Connection Inc stock
PC Connection Inc finds support from accumulated volume at $61.97 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 $1.08 (1.76%) between high and low. For the last week, the stock has had daily average volatility of 3.24%.
Our recommended stop-loss: $59.69 (-3.83%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CNXN) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect PC Connection Inc to open at $61.90, and during the day (based on 14 day Average True Range), to move between $60.52 and $63.62, which gives a possible trading interval of +/-$1.55 (+/-2.49%) up or down from last closing price. If PC Connection Inc takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $61.97 (0.16%) than the resistance at $64.33 (3.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PC Connection Inc stock A Buy?
PC Connection 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: -0.509 Hold/Accumulate Unchanged
Predicted Opening Price for PC Connection Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $61.90 ( 0.279%) | $62.07 |
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 | 62.98 | 1.46 % | |
| R2 | 62.56 | 0.796 % | ||
| R1 | 62.31 | 0.385 % | ||
| Current price: | 62.07 | |||
| Support | S1 | 61.48 | -0.94 % | |
| S2 | 61.23 | -1.35 % | ||
| S3 | 60.82 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.59 | 12.12 % | |
| R2 | 65.74 | 5.91 % | ||
| R1 | 64.33 | 3.64 % | ||
| Current price | 62.07 | |||
| Support | S1 | 61.97 | -0.161% | |
| S2 | 61.17 | -1.45% | ||
| S3 | 59.29 | -4.48% |
CNXN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 29, 2024 | $0.100 | 0.161% |
| 2 | Feb 12, 2024 | Feb 26, 2024 | Mar 15, 2024 | $0.100 | 0.155% |
| 3 | Oct 31, 2023 | Nov 13, 2023 | Dec 01, 2023 | $0.0800 | 0.134% |
| 4 | Jul 31, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.0800 | 0.149% |
| 5 | May 03, 2023 | May 15, 2023 | Jun 02, 2023 | $0.0800 | 0.173% |
FAQ
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