Cousins Properties Incorporated Stock Forecast
Cousins Properties Incorporated stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Cousins Properties Incorporated stock price gained 1.85% on the last trading day (Wednesday, 24th Apr 2024), rising from $22.70 to $23.12. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.10% from a day low at $22.44 to a day high of $23.14. The price has risen in 7 of the last 10 days and is up by 2.76% over the past 2 weeks. Volume fell on the last day by -258 thousand shares and in total, 1 million shares were bought and sold for approximately $26.80 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 Cousins Properties Incorporated stock with a 90% probability to be traded between $21.22 and $23.59 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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CUZ Signals & Forecast
The Cousins Properties Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $22.29 and $22.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.35%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cousins Properties Incorporated stock
Cousins Properties Incorporated finds support from accumulated volume at $22.90 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 $0.695 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 2.20%.
Since the Cousins Properties Incorporated has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $22.28 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (CUZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Cousins Properties Incorporated to open at $22.90, and during the day (based on 14 day Average True Range), to move between $22.54 and $23.70, which gives a possible trading interval of +/-$0.578 (+/-2.50%) up or down from last closing price. If Cousins Properties Incorporated takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.15 (0.13%) than the support at $22.90 (0.95%), 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
Cousins Properties Incorporated will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.630. We will update the financials statements for Cousins Properties Incorporated, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.37% in the first trading day after earnings release.
Is Cousins Properties Incorporated 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 Cousins Properties Incorporated stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.488 Buy Candidate Upgraded
Predicted Opening Price for Cousins Properties Incorporated of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$22.90 ( 0.96%) | $23.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.59 | 2.05 % | |
R2 | 23.33 | 0.90 % | ||
R1 | 23.16 | 0.190 % | ||
Current price: | 23.12 | |||
Support | S1 | 22.63 | -2.11 % | |
S2 | 22.47 | -2.82 % | ||
S3 | 22.20 | -3.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.61 | 2.12 % | |
R2 | 23.27 | 0.649 % | ||
R1 | 23.15 | 0.130 % | ||
Current price | 23.12 | |||
Support | S1 | 22.90 | -0.95% | |
S2 | 22.84 | -1.21% | ||
S3 | 22.81 | -1.34% |
CUZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Apr 03, 2024 | Apr 15, 2024 | $0.320 | 1.45% |
2 | Dec 20, 2023 | Jan 03, 2024 | Jan 16, 2024 | $0.320 | 1.35% |
3 | Sep 19, 2023 | Oct 03, 2023 | Oct 13, 2023 | $0.320 | 1.69% |
4 | Jun 20, 2023 | Jul 05, 2023 | Jul 17, 2023 | $0.320 | 1.35% |
5 | Mar 20, 2023 | Apr 04, 2023 | Apr 14, 2023 | $0.320 | 1.59% |
FAQ
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