COSTAR GROUP INC. - 1H - Technical analysis published on 07/27/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 65.25 USD
My targets
69.59 USD (+3.74%)
74.91 USD (+11.68%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on COSTAR GROUP INC. as long as the price remains well above 65.25 USD. The buyers' bullish objective is set at 69.59 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 74.91 USD. If there is any crossing, the next objective would be the resistance located at 75.85 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
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Additional analysis
Quotes
The COSTAR GROUP INC. price is 67.08 USD. On the day, this instrument gained +10.51% with the lowest point at 63.82 USD and the highest point at 67.21 USD. The deviation from the price is +5.11% for the low point and -0.19% for the high point.63.82
67.21
67.08
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of COSTAR GROUP INC. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 16 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 60.70 | 62.01 | 63.43 | 67.08 | 69.59 | 75.85 | 80.17 |
| Change (%) | -9.51% | -7.56% | -5.44% | - | +3.74% | +13.07% | +19.51% |
| Change | -6.38 | -5.07 | -3.65 | - | +2.51 | +8.77 | +13.09 |
| Level | Major | Minor | Major | - | Minor | Major | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 58.88 | 59.57 | 60.14 | 60.83 | 61.40 | 62.09 | 62.66 |
| Camarilla | 60.35 | 60.47 | 60.59 | 60.70 | 60.82 | 60.93 | 61.05 |
| Woodie | 58.81 | 59.54 | 60.07 | 60.80 | 61.33 | 62.06 | 62.59 |
| Fibonacci | 59.57 | 60.06 | 60.35 | 60.83 | 61.32 | 61.61 | 62.09 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.45 | 57.17 | 59.49 | 61.21 | 63.53 | 65.25 | 67.57 |
| Camarilla | 60.70 | 61.07 | 61.44 | 61.81 | 62.18 | 62.55 | 62.92 |
| Woodie | 55.75 | 57.32 | 59.79 | 61.36 | 63.83 | 65.40 | 67.87 |
| Fibonacci | 57.17 | 58.71 | 59.67 | 61.21 | 62.75 | 63.71 | 65.25 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 44.97 | 49.50 | 54.95 | 59.48 | 64.93 | 69.46 | 74.91 |
| Camarilla | 57.67 | 58.58 | 59.50 | 60.41 | 61.33 | 62.24 | 63.16 |
| Woodie | 45.44 | 49.73 | 55.42 | 59.71 | 65.40 | 69.69 | 75.38 |
| Fibonacci | 49.50 | 53.31 | 55.66 | 59.48 | 63.29 | 65.64 | 69.46 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 80.02 | |
| MACD (12,26,9): | 0.5700 | |
| Directional Movement: | 36.63 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 62.72 | |
| Parabolic SAR (0,02-0,02-0,2): | 60.33 | |
| Elder Ray (13): | 3.90 | |
| Super Trend (3,10): | 63.12 | |
| Zig ZAG (10): | 66.84 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 71.61 | |
| TEMA (21): | 63.15 | |
| Williams %R (14): | -0.22 | |
| Chande Momentum Oscillator (20): | 5.31 | |
| Repulse (5,40,3): | 4.7500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 3.59 |
| MA7: | 62.44 | |
| MA20: | 61.19 | |
| MA50: | 59.82 | |
| MA100: | 60.99 | |
| MAexp7: | 63.36 | |
| MAexp20: | 62.15 | |
| MAexp50: | 61.56 | |
| MAexp100: | 61.09 | |
| Price / MA7: | +7.43% | |
| Price / MA20: | +9.63% | |
| Price / MA50: | +12.14% | |
| Price / MA100: | +9.99% | |
| Price / MAexp7: | +5.87% | |
| Price / MAexp20: | +7.93% | |
| Price / MAexp50: | +8.97% | |
| Price / MAexp100: | +9.81% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on COSTAR GROUP INC. at the time of the analysis were as follows:
- CoStar Group Second Quarter 2022 Net New Bookings Grew 66% and Net Income Increased 37% Year-over-Year
- CoStar Group’s Lisa Ruggles Recognized Nationally Among CRE’s Women of Influence and Presented with the 2022 Mentor Award by GlobeSt. Real Estate Forum and GlobeSt.com
- Multifamily Rent Growth Across the Country Cools in Q2
- CoStar Group to Report Financial Results for Second Quarter 2022 on July 26, 2022
- CoStar Group & REBNY Launch Citysnap, New Consumer-facing Home Search Website and App for New York City
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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