Cofinimmo SA Stock Forecast
Weaker technical forecast for Cofinimmo SA as stock downgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The Cofinimmo SA stock price gained 0.397% on the last trading day (Tuesday, 23rd Apr 2024), rising from 62.95€ to 63.20€. It has now gained 5 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 1.12% from a day low at 62.50€ to a day high of 63.20€. The price has risen in 7 of the last 10 days and is up by 0.48% over the past 2 weeks. Volume fell on the last day by -43 thousand shares and in total, 48 thousand shares were bought and sold for approximately 3.01€ 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 lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at 63.74€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.03% during the next 3 months and, with a 90% probability hold a price between 50.86€ and 59.90€ 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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COFB.BB Signals & Forecast
The Cofinimmo SA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 62.40€ and 59.80€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 12.26%. 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 Cofinimmo SA stock
On the downside, the stock finds support just below today's level from accumulated volume at 58.35€ and 57.70€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cofinimmo SA finds support just below today's level at 58.35€. If this is broken, then the next support from accumulated volume will be at 57.70€ and 57.50€.
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 0.700€ (1.12%) between high and low. For the last week, the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: 61.20€ (-3.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (COFB.BB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Cofinimmo SA to open at 62.97€, and during the day (based on 14 day Average True Range), to move between 61.93€ and 64.47€, which gives a possible trading interval of +/-1.27€ (+/-2.01%) up or down from last closing price. If Cofinimmo SA takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 65.15€ (3.09%) than the support at 58.35€ (7.67%), 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
Cofinimmo SA will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.56. We will update the financials statements for Cofinimmo SA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.04% in the first trading day after earnings release.
Is Cofinimmo SA stock A Buy?
Cofinimmo SA 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.399 Hold/Accumulate Downgraded
Predicted Opening Price for Cofinimmo SA of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| 62.97€ ( 0.369%) | 63.20€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COFB.BB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.67 | 0.738 % | |
| R2 | 63.40 | 0.315 % | ||
| R1 | 63.23 | 0.0539 % | ||
| Current price: | 63.20 | |||
| Support | S1 | 62.70 | -0.792 % | |
| S2 | 62.53 | -1.05 % | ||
| S3 | 62.27 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.50 | 5.22 % | |
| R2 | 66.00 | 4.43 % | ||
| R1 | 65.15 | 3.09 % | ||
| Current price | 63.20 | |||
| Support | S1 | 58.35 | -7.67% | |
| S2 | 57.70 | -8.70% | ||
| S3 | 57.50 | -9.02% |
COFB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 13, 2024 | 0€ | 0% |
| 2 | May 15, 2023 | May 15, 2023 | May 15, 2023 | 6.20€ | 0% |
| 3 | May 16, 2022 | May 16, 2022 | May 16, 2022 | 6.00€ | 0% |
| 4 | May 17, 2021 | May 17, 2021 | May 17, 2021 | 5.80€ | 0% |
| 5 | Apr 26, 2019 | May 18, 2020 | Jun 09, 2020 | 5.60€ | 0% |
FAQ
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