CNXN Price Prediction Next Week
Analysis and Insights
Technical Analysis:
PC Connection, Inc. (CNXN) is showing signs of potential recovery after entering oversold territory. The Relative Strength Index (RSI) has improved to 61.76, indicating that the stock is no longer oversold and may be poised for a rebound. The stock is currently trading at $63.36, which is above the lower Bollinger Band of $58.54 and below the upper band of $66.74, suggesting volatility but with potential upside.
Fibonacci Levels:
The Fibonacci levels indicate that CNXN is near the pivot point of $61.64. The stock is currently trading above the S1 level of $59.88, which could act as a support level. The R1 level of $63.40 is just above the current price, suggesting a potential resistance point.
Price Prediction and Recommendation:
Based on the technical indicators and Fibonacci levels, CNXN is expected to reach a price of $66.24 in the next trading week. This target aligns with the R3 Fibonacci level and the upper Bollinger Band, indicating a bullish outlook. The improving RSI and proximity to key support levels suggest that CNXN is a buy at current levels, with a target price of $66.24.
CNXN Similar Chart Price Prediction
The price of CNXN is predicted to go up -18.54%, based on the high correlation periods with WBX. The similarity of these two price pattern on the periods is 95.1%.
CNXN
WBX
Down: -18.54%Similarity: 95.1%
