CoStar Group Stock Forecast

Buy candidate since Dec 06, 2024

The CoStar Group stock price gained 0.376% on the last trading day (Friday, 6th Dec 2024), rising from $77.03 to $77.32. During the last trading day the stock fluctuated 1.71% from a day low at $77.04 to a day high of $78.36. The price has been going up and down for this period, and there has been a 0.42% gain for the last 2 weeks. Volume fell on the last day by -636 thousand shares and in total, 2 million shares were bought and sold for approximately $181.09 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CoStar Group stock with a 90% probability to be traded between $71.89 and $82.61 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 stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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CSGP Signals & Forecast

The CoStar Group stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $79.66. On a fall, the stock will find some support from the long-term average at approximately $76.24. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, November 27, 2024, and so far it has fallen -5.67%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, November 05, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for CoStar Group stock

CoStar Group finds support from accumulated volume at $76.27 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 $1.32 between high and low, or 1.71%. For the last week, the stock has had daily average volatility of 2.76%.

Our recommended stop-loss: $73.63 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (CSGP) For The Upcoming Trading Day Of Monday 9th

For the upcoming trading day on Monday, 9th we expect CoStar Group to open at $77.57, and during the day (based on 14 day Average True Range), to move between $75.07 and $79.57, which gives a possible trading interval of +/-$2.25 (+/-2.91%) up or down from last closing price. If CoStar Group takes out the full calculated possible swing range there will be an estimated 5.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $77.37 (0.06%) than the support at $76.27 (1.36%), 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 CoStar Group stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for CoStar Group stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.068 Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 9, 2024 - $77.57 ( 0.328%).