City Office REIT Inc Stock Forecast
City Office REIT Inc stock price ended at $4.46 on Thursday, after gaining 1.83%.
(Updated on Apr 18, 2024)
The City Office REIT Inc stock price gained 1.83% on the last trading day (Thursday, 18th Apr 2024), rising from $4.38 to $4.46. During the last trading day the stock fluctuated 4.72% from a day low at $4.34 to a day high of $4.55. The price has been going up and down for this period, and there has been a -4.5% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 65 thousand more shares were traded than the day before. In total, 164 thousand shares were bought and sold for approximately $731.07 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 -12.34% during the next 3 months and, with a 90% probability hold a price between $3.21 and $4.43 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CIO Signals & Forecast
City Office REIT Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The City Office REIT Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $4.49 and $4.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -14.40%. 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).
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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.205 between high and low, or 4.72%. For the last week, the stock has had daily average volatility of 3.99%.
City Office REIT Inc is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect City Office REIT Inc to open at $4.45, and during the day (based on 14 day Average True Range), to move between $4.25 and $4.67, which gives a possible trading interval of +/-$0.207 (+/-4.64%) 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 9.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.42 (0.90%) than the resistance at $4.67 (4.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is City Office REIT Inc stock A Buy?
City Office REIT Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.424 Sell Candidate Unchanged
Predicted Opening Price for City Office REIT Inc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$4.45 ( 0.261%) | $4.46 |
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 | 4.65 | 4.33 % | |
R2 | 4.57 | 2.58 % | ||
R1 | 4.53 | 1.49 % | ||
Current price: | 4.46 | |||
Support | S1 | 4.37 | -2.02 % | |
S2 | 4.32 | -3.10 % | ||
S3 | 4.24 | -4.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.16 | 15.70 % | |
R2 | 5.00 | 12.11 % | ||
R1 | 4.67 | 4.71 % | ||
Current price | 4.46 | |||
Support | S1 | 4.42 | -0.90% | |
S2 | 4.38 | -1.79% | ||
S3 | 4.12 | -7.62% |
CIO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 09, 2024 | Apr 09, 2024 | Apr 24, 2024 | $0.100 | 2.24% |
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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