Coherent Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy Signal from Moving Average: Indicates potential upward movement.
Sell Signal (MA)
Sell Signal from Moving Average: Indicates potential downward movement.
AI Analysis of COHR
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Stronger technical forecast for Coherent stock price after Thursday trading
(Updated on Oct 03, 2024)
Buy or Hold candidate since Sep 11, 2024
Gain 25.08%
The Coherent stock price gained 3.07% on the last trading day (Thursday, 3rd Oct 2024), rising from $91.46 to $94.27. During the last trading day the stock fluctuated 4.26% from a day low at $90.60 to a day high of $94.46. The price has risen in 7 of the last 10 days and is up by 9.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 227 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $199.88 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $95.54 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.56% during the next 3 months and, with a 90% probability hold a price between $82.10 and $116.13 at the end of this 3-month period.
COHR Signals & Forecast
Mostly positive signals in the chart today. The Coherent 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 $90.91 and $80.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, August 05, 2024, and so far it has risen 67.59%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Coherent stock
On the downside, the stock finds support just below today's level from accumulated volume at $87.02 and $76.63. 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, Coherent finds support just below today's level at $87.02. If this is broken, then the next support from accumulated volume will be at $76.63 and $71.28.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.86 between high and low, or 4.26%. For the last week, the stock has had daily average volatility of 4.98%.
The Coherent stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stock may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $91.03 (-3.44%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (COHR) For The Upcoming Trading Day Of Friday 4th
For the upcoming trading day on Friday, 4th we expect Coherent to open at $93.11, and during the day (based on 14 day Average True Range), to move between $90.37 and $98.17, which gives a possible trading interval of +/-$3.90 (+/-4.14%) up or down from last closing price. If Coherent takes out the full calculated possible swing range there will be an estimated 8.27% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $87.02, some $7.25 (7.69%) from the current price of $94.27, our system finds the risk reward attractive.
Is Coherent stock A Buy?
Coherent holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score:
6.409
Strong Buy Candidate
Upgraded
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Predicted Fair Opening Price
Predicted fair opening price on October 4, 2024 - $93.11 ( 1.23%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for COHR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 96.97 | 2.86% |
| R2 | 95.50 | 1.30% |
| R1 | 94.58 | 0.334% |
| Price | 94.27 | |
| S1 | 91.64 | -2.79% |
| S2 | 90.72 | -3.76% |
| S3 | 89.25 | -5.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 94.27 | |
| S1 | 87.02 | -7.69% |
| S2 | 76.63 | -18.71% |
| S3 | 71.28 | -24.39% |
COHR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 10, 2012 | Dec 17, 2012 | Dec 27, 2012 | $1.00 | 5.49% |
FAQ
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