Cogstate Limited Stock Forecast

Red day on Friday for Cogstate Limited
(Updated on May 17, 2024)

COGZF Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cogstate Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.84 and $0.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -7.78%. 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).

Support, Risk & Stop-loss for Cogstate Limited stock

Cogstate Limited finds support from accumulated volume at $0.82 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 $0.0150 between high and low, or 1.81%. For the last week, the stock has had daily average volatility of 0.361%.

Our recommended stop-loss: $0.780 (-5.97%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (COGZF) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Cogstate Limited to open at $0.84, and during the day (based on 14 day Average True Range), to move between $0.81 and $0.85, which gives a possible trading interval of +/-$0.0157 (+/-1.89%) up or down from last closing price. If Cogstate Limited takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.82 (1.31%) than the resistance at $0.84 (1.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cogstate Limited stock A Buy?

Cogstate Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Cogstate Limited of Monday, May 20, 2024

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