Coty Inc Stock Forecast
Coty Inc stock upgraded to Buy Candidate.
(Updated on Mar 27, 2024)
The Coty Inc stock price gained 1.46% on the last trading day (Wednesday, 27th Mar 2024), rising from $11.65 to $11.82. During the last trading day the stock fluctuated 2.51% from a day low at $11.56 to a day high of $11.85. The price has fallen in 6 of the last 10 days and is down by -6.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $44.11 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.07% during the next 3 months and, with a 90% probability hold a price between $11.76 and $13.63 at the end of this 3-month period.
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COTY Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 2.07%. 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 Coty Inc 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 $12.30. On a fall, the stock will find some support from the short-term average at $11.81. 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 Coty Inc stock
Coty Inc finds support from accumulated volume at $11.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.290 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: $11.14 (-5.75%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (COTY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Coty Inc to open at $11.74, and during the day (based on 14 day Average True Range), to move between $11.50 and $12.14, which gives a possible trading interval of +/-$0.324 (+/-2.74%) up or down from last closing price. If Coty Inc takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.88 (0.51%) than the support at $11.62 (1.69%), 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 Coty 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 Coty Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.001 Buy Candidate Upgraded
Predicted Opening Price for Coty Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$11.74 ( 0.649%) | $11.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COTY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.03 | 1.80 % | |
R2 | 11.92 | 0.87 % | ||
R1 | 11.85 | 0.289 % | ||
Current price: | 11.82 | |||
Support | S1 | 11.63 | -1.59 % | |
S2 | 11.56 | -2.16 % | ||
S3 | 11.45 | -3.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.24 | 3.55 % | |
R2 | 12.10 | 2.37 % | ||
R1 | 11.88 | 0.508 % | ||
Current price | 11.82 | |||
Support | S1 | 11.62 | -1.69% | |
S2 | 11.55 | -2.28% | ||
S3 | 11.52 | -2.54% |
COTY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 05, 2020 | Feb 14, 2020 | Mar 27, 2020 | $0.125 | 1.98% |
2 | Nov 06, 2019 | Nov 15, 2019 | Dec 27, 2019 | $0.125 | 1.14% |
3 | Aug 28, 2019 | Sep 06, 2019 | Sep 30, 2019 | $0.125 | 1.19% |
4 | May 08, 2019 | Jun 05, 2019 | Jun 28, 2019 | $0.125 | 0.93% |
5 | Feb 08, 2019 | Feb 27, 2019 | Mar 15, 2019 | $0.125 | 1.15% |
FAQ
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