Cohen & Steers Ltd Duration Preferred Stock Forecast
Cohen & Steers Ltd Duration Preferred stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Cohen & Steers Ltd Duration Preferred stock price gained 1.23% on the last trading day (Friday, 3rd May 2024), rising from $19.56 to $19.80. It has now gained 3 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 1.83% from a day low at $19.65 to a day high of $20.01. The price has risen in 6 of the last 10 days and is up by 3.83% 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, 108 thousand more shares were traded than the day before. In total, 178 thousand shares were bought and sold for approximately $3.52 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Cohen & Steers Ltd Duration Preferred stock with a 90% probability to be traded between $18.74 and $20.01 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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LDP Signals & Forecast
Mostly positive signals in the chart today. The Cohen & Steers Ltd Duration Preferred 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 $19.41 and $19.59. 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 4.60%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Cohen & Steers Ltd Duration Preferred stock
Cohen & Steers Ltd Duration Preferred finds support from accumulated volume at $19.35 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 $0.360 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.05%.
Our recommended stop-loss: $18.84 (-4.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (LDP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cohen & Steers Limited Duration Preferred and Income Fund Inc to open at $19.82, and during the day (based on 14 day Average True Range), to move between $19.59 and $20.01, which gives a possible trading interval of +/-$0.206 (+/-1.04%) up or down from last closing price. If Cohen & Steers Limited Duration Preferred and Income Fund Inc takes out the full calculated possible swing range there will be an estimated 2.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.88 (0.40%) than the support at $19.35 (2.27%), 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 Cohen & Steers Limited Duration Preferred and Income Fund Inc 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 Cohen & Steers Ltd Duration Preferred 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: 3.604 Buy Candidate Upgraded
Predicted Opening Price for Cohen & Steers Limited Duration Preferred and Income Fund Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $19.82 ( 0.101%) | $19.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LDP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.18 | 1.92 % | |
| R2 | 20.04 | 1.22 % | ||
| R1 | 19.96 | 0.796 % | ||
| Current price: | 19.80 | |||
| Support | S1 | 19.68 | -0.594 % | |
| S2 | 19.60 | -1.02 % | ||
| S3 | 19.46 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.08 | 1.41 % | |
| R2 | 19.93 | 0.657 % | ||
| R1 | 19.88 | 0.404 % | ||
| Current price | 19.80 | |||
| Support | S1 | 19.35 | -2.27% | |
| S2 | 19.34 | -2.32% | ||
| S3 | 19.33 | -2.37% |
LDP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jun 28, 2024 | $0.131 | 0.662% |
| 2 | Mar 21, 2024 | May 14, 2024 | May 31, 2024 | $0.131 | 0.662% |
| 3 | Mar 21, 2024 | Apr 09, 2024 | Apr 30, 2024 | $0.131 | 0.681% |
| 4 | Dec 15, 2023 | Mar 12, 2024 | Mar 28, 2024 | $0.131 | 0.652% |
| 5 | Dec 12, 2023 | Feb 13, 2024 | Feb 29, 2024 | $0.131 | 0.656% |
FAQ
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