City Office REIT Inc Stock Forecast
Red day on Tuesday for City Office REIT Inc stock after losing 0.431%
(Updated on Apr 23, 2024)
The City Office REIT Inc stock price fell by -0.431% on the last day (Tuesday, 23rd Apr 2024) from $4.64 to $4.62. During the last trading day the stock fluctuated 4.66% from a day low at $4.61 to a day high of $4.83. The price has been going up and down for this period, and there has been a -3.14% loss for the last 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 -33 thousand shares and in total, 148 thousand shares were bought and sold for approximately $685.77 thousand.
The stock lies in the middle of a very wide and 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 -8.68% during the next 3 months and, with a 90% probability hold a price between $3.45 and $4.64 at the end of this 3-month period.
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CIO Signals & Forecast
The City Office REIT Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $4.49 and $4.60. A breakdown below any of these levels will issue sell signals. 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 Thursday, March 28, 2024, and so far it has fallen -11.32%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for City Office REIT Inc stock
City Office REIT Inc finds support from accumulated volume at $4.42 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.215 between high and low, or 4.66%. For the last week the stock has had daily average volatility of 3.58%.
Our recommended stop-loss: $4.40 (-4.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (CIO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect City Office REIT Inc to open at $4.69, and during the day (based on 14 day Average True Range), to move between $4.42 and $4.82, which gives a possible trading interval of +/-$0.200 (+/-4.33%) up or down from last closing price. If City Office REIT Inc takes out the full calculated possible swing range there will be an estimated 8.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.67 (1.08%) than the support at $4.42 (4.33%), 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 City Office REIT Inc stock A Buy?
City Office REIT 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.
Current score: 0.044 Hold/Accumulate Unchanged
Predicted Opening Price for City Office REIT Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $4.69 ( 1.41%) | $4.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.90 | 6.06 % | |
| R2 | 4.82 | 4.28 % | ||
| R1 | 4.77 | 3.18 % | ||
| Current price: | 4.62 | |||
| Support | S1 | 4.60 | -0.371 % | |
| S2 | 4.55 | -1.47 % | ||
| S3 | 4.47 | -3.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.16 | 11.69 % | |
| R2 | 5.00 | 8.23 % | ||
| R1 | 4.67 | 1.08 % | ||
| Current price | 4.62 | |||
| Support | S1 | 4.42 | -4.33% | |
| S2 | 4.38 | -5.19% | ||
| S3 | 4.12 | -10.82% |
CIO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2024 | Apr 09, 2024 | Apr 24, 2024 | $0.100 | 2.16% |
| 2 | Dec 15, 2023 | Jan 09, 2024 | Jan 24, 2024 | $0.100 | 1.83% |
| 3 | Sep 15, 2023 | Oct 06, 2023 | Oct 24, 2023 | $0.100 | 2.72% |
| 4 | May 05, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.100 | 1.81% |
| 5 | Mar 14, 2023 | Apr 10, 2023 | Apr 25, 2023 | $0.200 | 3.42% |
FAQ
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