CONX Corp. Stock Forecast
Red day on Thursday for CONX Corp.
(Updated on Apr 25, 2024)
The CONX Corp. stock price fell by -0.189% on the last day (Thursday, 25th Apr 2024) from $10.58 to $10.56. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0% from a day low at $10.56 to a day high of $10.56. The price has been going up and down for this period, and there has been a 0.09% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 618 shares were bought and sold for approximately $6.53 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CONX Corp. stock with a 90% probability to be traded between $10.37 and $10.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CONX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 0.86%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The CONX Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $10.59 and $10.59. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CONX Corp. stock
CONX Corp. finds support from accumulated volume at $10.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0030%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CONX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect CONX Corp. to open at $10.56, and during the day (based on 14 day Average True Range), to move between $10.53 and $10.59, which gives a possible trading interval of +/-$0.0281 (+/-0.27%) up or down from last closing price. If CONX Corp. takes out the full calculated possible swing range there will be an estimated 0.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.55 (0.09%) than the resistance at $10.58 (0.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CONX Corp. stock A Buy?
CONX Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.121 Sell Candidate Unchanged
Predicted Opening Price for CONX Corp. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $10.56 ( 0%) | $10.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CONX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.56 | . | |
| R2 | 10.56 | . | ||
| R1 | 10.56 | . | ||
| Current price: | 10.56 | |||
| Support | S1 | 10.56 | . | |
| S2 | 10.56 | . | ||
| S3 | 10.56 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.60 | 0.379 % | |
| R2 | 10.59 | 0.284 % | ||
| R1 | 10.58 | 0.189 % | ||
| Current price | 10.56 | |||
| Support | S1 | 10.55 | -0.0947% | |
| S2 | 10.55 | -0.142% | ||
| S3 | 10.54 | -0.189% |
FAQ
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