CORNERSTONE PROPERTIES INC Stock Forecast
Red day on Tuesday for CORNERSTONE PROPERTIES INC
(Updated on Apr 23, 2024)
The CORNERSTONE PROPERTIES INC stock price fell by -1.84% on the last day (Tuesday, 23rd Apr 2024) from £190.00 to £186.50. During the last trading day the stock fluctuated 0.91% from a day low at £184.82 to a day high of £186.50. The price has risen in 7 of the last 10 days and is up by 18.26% over the past 2 weeks. Volume has increased on the last day by 18 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 18 thousand shares were bought and sold for approximately £3.27 million.
The stock lies in the upper part of a wide and strong rising 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 £190.46 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 17.07% during the next 3 months and, with a 90% probability hold a price between £187.23 and £222.97 at the end of this 3-month period.
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CPP.L Signals & Forecast
The CORNERSTONE PROPERTIES INC 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 £185.41 and £163.31. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -1.84%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for CORNERSTONE PROPERTIES INC stock
CORNERSTONE PROPERTIES INC finds support from accumulated volume at £181.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £1.68 between high and low, or 0.91%. For the last week, the stock has had daily average volatility of 1.41%.
Our recommended stop-loss: £180.38 (-3.28%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CPP.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect CORNERSTONE PROPERTIES INC to open at £185.94, and during the day (based on 14 day Average True Range), to move between £179.93 and £193.07, which gives a possible trading interval of +/-£6.57 (+/-3.52%) up or down from last closing price. If CORNERSTONE PROPERTIES INC takes out the full calculated possible swing range there will be an estimated 7.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £189.88 (1.81%) than the support at £181.50 (2.68%), 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 CORNERSTONE PROPERTIES INC stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CORNERSTONE PROPERTIES INC stock to perform well in the short-term.
Current score: 1.123 Buy Candidate Unchanged
Predicted Opening Price for CORNERSTONE PROPERTIES INC of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £185.94 ( 0.300%) | £186.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 187.62 | 0.601 % | |
| R2 | 186.98 | 0.256 % | ||
| R1 | 186.58 | 0.0438 % | ||
| Current price: | 186.50 | |||
| Support | S1 | 185.30 | -0.644 % | |
| S2 | 184.90 | -0.86 % | ||
| S3 | 184.26 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 190.00 | 1.88 % | ||
| R1 | 189.88 | 1.81 % | ||
| Current price | 186.50 | |||
| Support | S1 | 181.50 | -2.68% | |
| S2 | 162.50 | -12.87% | ||
| S3 | 156.00 | -16.35% |
CPP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2022 | Apr 14, 2022 | May 17, 2022 | £7.50 | 3.13% |
| 2 | Aug 24, 2021 | Sep 02, 2021 | Sep 24, 2021 | £5.00 | 1.11% |
| 3 | Mar 24, 2021 | Apr 08, 2021 | May 12, 2021 | £25.00 | 4.69% |
| 4 | Aug 23, 2011 | Sep 14, 2011 | Oct 12, 2011 | £242.00 | 2.02% |
| 5 | Mar 03, 2011 | Apr 13, 2011 | May 25, 2011 | £512.00 | 4.10% |
FAQ
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