Cohen & Steers Reit and Preferred Income Stock Forecast
Cohen & Steers Reit and Preferred Income stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Cohen & Steers Reit and Preferred Income stock price gained 1.15% on the last trading day (Thursday, 28th Mar 2024), rising from $20.79 to $21.03. It has now gained 4 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 1.68% from a day low at $20.80 to a day high of $21.15. The price has risen in 7 of the last 10 days and is up by 2.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 116 thousand more shares were traded than the day before. In total, 192 thousand shares were bought and sold for approximately $4.04 million.
The stock lies in the upper part of a weak 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 $21.25 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.79% during the next 3 months and, with a 90% probability hold a price between $20.54 and $21.85 at the end of this 3-month period.
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RNP Signals & Forecast
The Cohen & Steers Reit and Preferred Income 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 $20.65 and $20.50. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -0.473%. 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 Cohen & Steers Reit and Preferred Income stock
Cohen & Steers Reit and Preferred Income finds support from accumulated volume at $20.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.349 between high and low, or 1.68%. For the last week the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: $20.17 (-4.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (RNP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cohen & Steers Reit and Preferred Income Fund Inc to open at $20.99, and during the day (based on 14 day Average True Range), to move between $20.76 and $21.30, which gives a possible trading interval of +/-$0.267 (+/-1.27%) up or down from last closing price. If Cohen & Steers Reit and Preferred Income Fund Inc takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.98 (0.24%) than the resistance at $21.10 (0.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cohen & Steers Reit and Preferred Income Fund 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 Cohen & Steers Reit and Preferred Income stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.394 Buy Candidate Upgraded
Predicted Opening Price for Cohen & Steers Reit and Preferred Income Fund Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$20.99 ( 0.176%) | $21.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.34 | 1.48 % | |
R2 | 21.21 | 0.85 % | ||
R1 | 21.13 | 0.458 % | ||
Current price: | 21.03 | |||
Support | S1 | 20.86 | -0.81 % | |
S2 | 20.78 | -1.20 % | ||
S3 | 20.64 | -1.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.13 | 0.476 % | |
R2 | 21.11 | 0.380 % | ||
R1 | 21.10 | 0.333 % | ||
Current price | 21.03 | |||
Support | S1 | 20.98 | -0.238% | |
S2 | 20.82 | -1.00% | ||
S3 | 20.12 | -4.33% |
RNP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Apr 09, 2024 | Apr 30, 2024 | $0.136 | 0.647% |
2 | Dec 12, 2023 | Mar 12, 2024 | Mar 28, 2024 | $0.136 | 0.647% |
3 | Dec 12, 2023 | Feb 13, 2024 | Feb 29, 2024 | $0.136 | 0.665% |
4 | Dec 12, 2023 | Jan 16, 2024 | Jan 31, 2024 | $0.136 | 0.675% |
5 | Sep 29, 2023 | Dec 12, 2023 | Dec 29, 2023 | $0.136 | 0.675% |
FAQ
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