City Office REIT Inc Stock Forecast
City Office REIT Inc stock price down 1.08% on Wednesday
(Updated on Apr 24, 2024)
The City Office REIT Inc stock price fell by -1.08% on the last day (Wednesday, 24th Apr 2024) from $4.62 to $4.57. During the last trading day the stock fluctuated 2.87% from a day low at $4.53 to a day high of $4.66. The price has been going up and down for this period, and there has been a -1.3% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 161 thousand shares were bought and sold for approximately $736.51 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.63% during the next 3 months and, with a 90% probability hold a price between $3.52 and $4.70 at the end of this 3-month period.
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CIO Signals & Forecast
There are mixed signals in the stock today. The City Office REIT 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 $4.61. On a fall, the stock will find some support from the short-term average at $4.52. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -12.28%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for City Office REIT Inc stock
City Office REIT Inc finds support from accumulated volume at $4.42 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.130 between high and low, or 2.87%. For the last week the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CIO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect City Office REIT Inc to open at $4.59, and during the day (based on 14 day Average True Range), to move between $4.38 and $4.76, which gives a possible trading interval of +/-$0.195 (+/-4.26%) up or down from last closing price. If City Office REIT Inc takes out the full calculated possible swing range there will be an estimated 8.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.67 (2.19%) than the support at $4.42 (3.28%), 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 City Office REIT Inc stock A Buy?
City Office REIT Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.041 Sell Candidate Unchanged
Predicted Opening Price for City Office REIT Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$4.59 ( 0.365%) | $4.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.72 | 3.21 % | |
R2 | 4.67 | 2.12 % | ||
R1 | 4.64 | 1.45 % | ||
Current price: | 4.57 | |||
Support | S1 | 4.54 | -0.722 % | |
S2 | 4.51 | -1.39 % | ||
S3 | 4.46 | -2.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.16 | 12.91 % | |
R2 | 5.00 | 9.41 % | ||
R1 | 4.67 | 2.19 % | ||
Current price | 4.57 | |||
Support | S1 | 4.42 | -3.28% | |
S2 | 4.38 | -4.16% | ||
S3 | 4.12 | -9.85% |
CIO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 09, 2024 | Apr 09, 2024 | Apr 24, 2024 | $0.100 | 2.19% |
2 | Dec 15, 2023 | Jan 09, 2024 | Jan 24, 2024 | $0.100 | 1.83% |
3 | Sep 15, 2023 | Oct 06, 2023 | Oct 24, 2023 | $0.100 | 2.72% |
4 | May 05, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.100 | 1.81% |
5 | Mar 14, 2023 | Apr 10, 2023 | Apr 25, 2023 | $0.200 | 3.42% |
FAQ
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