Cosco Stock Forecast

Evaluation of Cosco stock downgraded after the last trading session.
(Updated on Jun 28, 2024)

COSCO.BO Signals & Forecast

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 Cosco 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 ₹322.18 and ₹326.39. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -12.64%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Cosco stock

Cosco finds support from accumulated volume at ₹320.90 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 controlled movements and therefore the general risk is considered 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 ₹9.30 between high and low, or 2.92%. For the last week the stock has had daily average volatility of 3.03%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (COSCO.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Cosco to open at ₹322.43, and during the day (based on 14 day Average True Range), to move between ₹304.00 and ₹340.00, which gives a possible trading interval of +/-₹18.00 (+/-5.59%) up or down from last closing price. If Cosco takes out the full calculated possible swing range there will be an estimated 11.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹320.90 (0.34%) than the resistance at ₹325.90 (1.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cosco stock A Buy?

The Cosco stock holds several negative signals and despite the positive trend, we believe Cosco will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.664 Sell Candidate Downgraded

Predicted Opening Price for Cosco of Monday, July 1, 2024

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