$6.45 (0.146%)

Volume: 7.833k

Closed: Dec 02, 2022

Hollow Logo Score: 4.253

Coda Octopus Group Inc Stock Forecast

$6.45 (0.146%)

Volume: 7.833k

Closed: Dec 02, 2022

Score Hollow Logo 4.253
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ]
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Coda Octopus Group Inc stock price up 0.146% on Friday
(Updated on Dec 02, 2022)


Buy or Hold candidate since 2022-09-13 Gain 31.25% PDF

The Coda Octopus Group Inc stock price gained 0.146% on the last trading day (Friday, 2nd Dec 2022), rising from $6.44 to $6.45. During the last trading day the stock fluctuated 1.26% from a day low at $6.37 to a day high of $6.45. The price has risen in 6 of the last 10 days and is up by 5.73% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 8 thousand shares were bought and sold for approximately $50.52 thousand. 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.

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The stock lies in the middle of a strong 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 32.05% during the next 3 months and, with a 90% probability hold a price between $8.26 and $8.71 at the end of this 3-month period.

CODA Signals & Forecast

The Coda Octopus Group Inc 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 $6.43 and $6.17. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, November 25, 2022, and so far it has fallen -0.318%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

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Support, Risk & Stop-loss for Coda Octopus Group Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $5.61 and $5.45. 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, Coda Octopus Group Inc finds support just below today's level at $5.61. If this is broken, then the next support from accumulated volume will be at $5.45 and $5.18.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0800 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.48%.

Our recommended stop-loss: $6.25 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (CODA) For The Upcoming Trading Day Of Monday 5th

For the upcoming trading day on Monday, 5th we expect Coda Octopus Group Inc to open at $6.42, and during the day (based on 14 day Average True Range), to move between $6.29 and $6.61, which gives a possible trading interval of +/-$0.159 (+/-2.46%) up or down from last closing price. If Coda Octopus Group Inc takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $6.45 (0.01%) than the support at $5.61 (13.02%), 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 Coda Octopus Group Inc 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 Coda Octopus Group Inc stock to perform well in the short-term.

Current score: 4.253 Open Broker Account

Buy Candidate Unchanged

Predicted Opening Price for Coda Octopus Group Inc of Monday, December 5, 2022

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price December 5, 2022 Current price
$6.42 $6.45 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 6.50 0.83 %
6.47 0.359 %
6.45 0.0666 %
Current price: 6.45
Support 6.39 -0.88 %
6.37 -1.17 %
6.34 -1.65 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
6.47 0.319 %
6.45 0.0093 %
Current price 6.45
Support 5.61 -13.02%
5.45 -15.50%
5.18 -19.68%

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About Coda Octopus Group Inc

Coda Octopus Group Coda Octopus Group, Inc., together with its subsidiaries, develops and sells underwater technologies and equipment for 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. The company operates through two segments, Marine Engineering Business and Marine Technology Business. It sells technology solutions to the subsea and underwater markets. The company's solutions include geo... CODA Profile

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