Cofinimmo SA Stock Forecast

Cofinimmo SA stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)

COFB.BB Signals & Forecast

The Cofinimmo SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 62.44€. On a fall, the stock will find some support from the long-term average at approximately 60.54€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, April 29, 2024, and so far it has fallen -1.58%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Cofinimmo SA stock

On the downside, the stock finds support just below today's level from accumulated volume at 58.35€ and 57.70€. 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, Cofinimmo SA finds support just below today's level at 58.35€. If this is broken, then the next support from accumulated volume will be at 57.70€ and 57.50€.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 1.50€ between high and low, or 2.42%. For the last week the stock has had daily average volatility of 2.42%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (COFB.BB) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Cofinimmo SA to open at 62.63€, and during the day (based on 14 day Average True Range), to move between 60.96€ and 63.64€, which gives a possible trading interval of +/-1.34€ (+/-2.16%) up or down from last closing price. If Cofinimmo SA takes out the full calculated possible swing range there will be an estimated 4.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 62.40€ (0.16%) than the support at 58.35€ (6.34%), 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 Cofinimmo SA stock A Buy?

Cofinimmo SA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -1.967 Sell Candidate Downgraded

Predicted Opening Price for Cofinimmo SA of Thursday, May 2, 2024

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