PC Connection Inc Stock Forecast
PC Connection Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The PC Connection Inc stock price fell by -1.15% on the last day (Friday, 26th Apr 2024) from $64.43 to $63.69. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.70% from a day low at $63.69 to a day high of $64.77. The price has fallen in 7 of the last 10 days but is still up by 0.2% over the past 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 -559 shares and in total, 41 thousand shares were bought and sold for approximately $2.62 million.
The stock lies in the middle of a 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 -4.63% during the next 3 months and, with a 90% probability hold a price between $58.61 and $63.92 at the end of this 3-month period.
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CNXN Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.02%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PC Connection 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 $64.43. On a fall, the stock will find some support from the short-term average at $63.63. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for PC Connection Inc stock
PC Connection Inc finds support from accumulated volume at $63.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.08 (1.70%) between high and low. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $60.27 (-5.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (CNXN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect PC Connection Inc to open at $64.05, and during the day (based on 14 day Average True Range), to move between $62.38 and $65.00, which gives a possible trading interval of +/-$1.31 (+/-2.05%) up or down from last closing price. If PC Connection Inc takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $63.56 (0.20%) than the resistance at $64.33 (1.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
PC Connection Inc will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.640. We will update the financials statements for PC Connection Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.32% in the first trading day after earnings release.
Is PC Connection Inc stock A Buy?
PC Connection Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.640 Hold/Accumulate Upgraded
Predicted Opening Price for PC Connection Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $64.05 ( 0.565%) | $63.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNXN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.13 | 2.26 % | |
| R2 | 64.72 | 1.61 % | ||
| R1 | 64.46 | 1.21 % | ||
| Current price: | 63.69 | |||
| Support | S1 | 63.64 | -0.0825 % | |
| S2 | 63.38 | -0.483 % | ||
| S3 | 62.97 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.59 | 9.26 % | |
| R2 | 66.01 | 3.64 % | ||
| R1 | 64.33 | 1.00 % | ||
| Current price | 63.69 | |||
| Support | S1 | 63.56 | -0.204% | |
| S2 | 63.31 | -0.597% | ||
| S3 | 62.36 | -2.09% |
CNXN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 26, 2024 | Mar 15, 2024 | $0.100 | 0.155% |
| 2 | Oct 31, 2023 | Nov 13, 2023 | Dec 01, 2023 | $0.0800 | 0.134% |
| 3 | Jul 31, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.0800 | 0.149% |
| 4 | May 03, 2023 | May 15, 2023 | Jun 02, 2023 | $0.0800 | 0.173% |
| 5 | Feb 09, 2023 | Feb 17, 2023 | Mar 10, 2023 | $0.0800 | 0.186% |
FAQ
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