Coherent Stock Forecast
Coherent stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Coherent stock price gained 4.12% on the last trading day (Friday, 26th Apr 2024), rising from $52.88 to $55.06. During the last trading day the stock fluctuated 4.76% from a day low at $53.13 to a day high of $55.66. The price has been going up and down for this period, and there has been a 2.72% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $142.85 million.
The stock lies in the middle of a very wide and 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 -3.32% during the next 3 months and, with a 90% probability hold a price between $47.45 and $63.34 at the end of this 3-month period.
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COHR Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 11.77%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Coherent 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 $57.46. On a fall, the stock will find some support from the short-term average at $52.02. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Coherent stock
On the downside, the stock finds support just below today's level from accumulated volume at $49.42 and $49.26. 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 $49.42. If this is broken, then the next support from accumulated volume will be at $49.26 and $48.69.
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 $2.53 between high and low, or 4.76%. For the last week, the stock has had daily average volatility of 4.54%.
Our recommended stop-loss: $52.78 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (COHR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Coherent to open at $54.62, and during the day (based on 14 day Average True Range), to move between $52.76 and $57.36, which gives a possible trading interval of +/-$2.30 (+/-4.18%) up or down from last closing price. If Coherent takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.00 (5.34%) than the support at $49.42 (10.24%), 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 Coherent stock A Buy?
Coherent 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.677 Hold/Accumulate Upgraded
Predicted Opening Price for Coherent of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$54.62 ( 0.81%) | $55.06 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 57.15 | 3.79 % | |
R2 | 56.18 | 2.03 % | ||
R1 | 55.58 | 0.95 % | ||
Current price: | 55.06 | |||
Support | S1 | 53.65 | -2.56 % | |
S2 | 53.05 | -3.64 % | ||
S3 | 52.09 | -5.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.89 | 12.40 % | |
R2 | 61.81 | 12.26 % | ||
R1 | 58.00 | 5.34 % | ||
Current price | 55.06 | |||
Support | S1 | 49.42 | -10.24% | |
S2 | 49.26 | -10.53% | ||
S3 | 48.69 | -11.57% |
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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