Cooper Companies Inc (The) Stock Forecast
Stronger technical forecast for Cooper Companies Inc (The) stock price after Thursday trading.
(Updated on Apr 18, 2024)
The Cooper Companies Inc (The) stock price gained 0.612% on the last trading day (Thursday, 18th Apr 2024), rising from $89.86 to $90.41. During the last trading day the stock fluctuated 1.55% from a day low at $89.41 to a day high of $90.80. The price has fallen in 7 of the last 10 days and is down by -8.82% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 514 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $132.03 million.
The stock lies the upper part of a very 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 $122.35 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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COO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.612%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cooper Companies Inc (The) 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 $92.71 and $99.00. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cooper Companies Inc (The) stock
Cooper Companies Inc (The) finds support from accumulated volume at $89.86 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 $1.39 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 2.29%.
Cooper Companies Inc (The) is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $84.53 (-6.51%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 13 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (COO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cooper Companies Inc (The) to open at $90.21, and during the day (based on 14 day Average True Range), to move between $87.43 and $93.39, which gives a possible trading interval of +/-$2.98 (+/-3.30%) up or down from last closing price. If Cooper Companies Inc (The) takes out the full calculated possible swing range there will be an estimated 6.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $89.86 (0.61%) than the resistance at $93.60 (3.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cooper Companies Inc (The) stock A Buy?
Cooper Companies Inc (The) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.346 Hold/Accumulate Upgraded
Predicted Opening Price for Cooper Companies Inc (The) of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $90.21 ( 0.225%) | $90.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.60 | 1.31 % | |
| R2 | 91.07 | 0.725 % | ||
| R1 | 90.74 | 0.362 % | ||
| Current price: | 90.41 | |||
| Support | S1 | 89.68 | -0.81 % | |
| S2 | 89.35 | -1.18 % | ||
| S3 | 88.82 | -1.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 102.25 | 13.10 % | |
| R2 | 102.19 | 13.03 % | ||
| R1 | 93.60 | 3.53 % | ||
| Current price | 90.41 | |||
| Support | S1 | 89.86 | -0.608% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
COO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2023 | Jul 27, 2023 | Aug 11, 2023 | $0.0300 | 0.0320% |
| 2 | Jul 12, 2023 | Jul 26, 2023 | Aug 11, 2023 | $0.0300 | 0.0320% |
| 3 | Dec 14, 2022 | Jan 20, 2023 | Feb 10, 2023 | $0.0300 | 0.0358% |
| 4 | Jul 13, 2022 | Jul 26, 2022 | Aug 11, 2022 | $0.0300 | 0.0365% |
| 5 | Dec 08, 2021 | Jan 20, 2022 | Feb 09, 2022 | $0.0300 | 0.0295% |
FAQ
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