Mr. Cooper Group Inc. Stock Forecast
Mr. Cooper Group Inc. stock price ended at $77.55 on Friday, after gaining 2.35%.
(Updated on Apr 19, 2024)
The Mr. Cooper Group Inc. stock price gained 2.35% on the last trading day (Friday, 19th Apr 2024), rising from $75.77 to $77.55. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.72% from a day low at $75.61 to a day high of $77.67. The price has risen in 7 of the last 10 days and is up by 0.54% 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, 114 thousand more shares were traded than the day before. In total, 373 thousand shares were bought and sold for approximately $28.94 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.29% during the next 3 months and, with a 90% probability hold a price between $87.81 and $94.12 at the end of this 3-month period.
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COOP Signals & Forecast
The Mr. Cooper Group Inc. 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 $76.17 and $75.09. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -0.590%. 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 Mr. Cooper Group Inc. stock
Mr. Cooper Group Inc. finds support from accumulated volume at $74.68 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.06 between high and low, or 2.72%. For the last week the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: $74.49 (-3.95%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (COOP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Mr. Cooper Group Inc. to open at $76.94, and during the day (based on 14 day Average True Range), to move between $75.86 and $79.24, which gives a possible trading interval of +/-$1.69 (+/-2.18%) up or down from last closing price. If Mr. Cooper Group Inc. takes out the full calculated possible swing range there will be an estimated 4.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $77.57 (0.03%) than the support at $74.68 (3.70%), 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.
Earnings coming up
Mr. Cooper Group Inc. will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.11. We will update the financials statements for Mr. Cooper Group Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.42% in the first trading day after earnings release.
Is Mr. Cooper Group Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mr. Cooper Group Inc. stock to perform well in the short-term.
Current score: 4.814 Buy Candidate Unchanged
Predicted Opening Price for Mr. Cooper Group Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $76.94 ( 0.782%) | $77.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COOP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.00 | 1.87 % | |
| R2 | 78.22 | 0.86 % | ||
| R1 | 77.73 | 0.232 % | ||
| Current price: | 77.55 | |||
| Support | S1 | 76.16 | -1.80 % | |
| S2 | 75.67 | -2.42 % | ||
| S3 | 74.88 | -3.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.01 | 0.593 % | |
| R2 | 77.95 | 0.516 % | ||
| R1 | 77.57 | 0.0258 % | ||
| Current price | 77.55 | |||
| Support | S1 | 74.68 | -3.70% | |
| S2 | 73.44 | -5.30% | ||
| S3 | 71.97 | -7.20% |
FAQ
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