COSTAR GROUP INC. - 1H - Technical analysis published on 10/31/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
94%
0%
6%
My opinion
Bullish above 72.47 USD
My targets
74.66 USD (+0.92%)
75.85 USD (+2.53%)
My analysis
The strong short-term increase of COSTAR GROUP INC. should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 72.47 USD, a purchase could be considered. The first bullish objective is located at 74.66 USD. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 75.85 USD. If there is any crossing, the next objective would be the resistance at 77.88 USD. Caution, if there is a return under 72.47 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.
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
4.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COSTAR GROUP INC. price is 73.98 USD. The price has increased by +4.51% since the last closing with the lowest point at 71.00 USD and the highest point at 74.05 USD. The deviation from the price is +4.20% for the low point and -0.09% for the high point.71.00
74.05
73.98
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this COSTAR GROUP INC. chart shows a neutral trend. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
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 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 67.35 | 69.58 | 72.47 | 73.98 | 74.66 | 75.85 | 77.88 |
| Change (%) | -8.96% | -5.95% | -2.04% | - | +0.92% | +2.53% | +5.27% |
| Change | -6.63 | -4.40 | -1.51 | - | +0.68 | +1.87 | +3.90 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.83 | 68.63 | 69.71 | 70.51 | 71.59 | 72.39 | 73.47 |
| Camarilla | 70.27 | 70.45 | 70.62 | 70.79 | 70.96 | 71.14 | 71.31 |
| Woodie | 67.97 | 68.70 | 69.85 | 70.58 | 71.73 | 72.46 | 73.61 |
| Fibonacci | 68.63 | 69.35 | 69.79 | 70.51 | 71.23 | 71.67 | 72.39 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.22 | 63.79 | 67.18 | 70.75 | 74.14 | 77.71 | 81.10 |
| Camarilla | 68.67 | 69.30 | 69.94 | 70.58 | 71.22 | 71.86 | 72.49 |
| Woodie | 60.14 | 63.75 | 67.10 | 70.71 | 74.06 | 77.67 | 81.02 |
| Fibonacci | 63.79 | 66.45 | 68.09 | 70.75 | 73.41 | 75.05 | 77.71 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 65.36 | 70.57 | 73.73 | 78.94 | 82.10 | 87.31 | 90.47 |
| Camarilla | 74.59 | 75.36 | 76.12 | 76.89 | 77.66 | 78.43 | 79.19 |
| Woodie | 64.34 | 70.06 | 72.71 | 78.43 | 81.08 | 86.80 | 89.45 |
| Fibonacci | 70.57 | 73.77 | 75.74 | 78.94 | 82.14 | 84.11 | 87.31 |
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): | 69.56 | |
| MACD (12,26,9): | 0.4700 | |
| Directional Movement: | 21.85 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 72.06 | |
| Parabolic SAR (0,02-0,02-0,2): | 69.06 | |
| Elder Ray (13): | 1.93 | |
| Super Trend (3,10): | 71.78 | |
| Zig ZAG (10): | 73.94 | |
| VORTEX (21): | 1.1900 | |
| Stochastique (14,3,5): | 96.40 | |
| TEMA (21): | 73.09 | |
| Williams %R (14): | -2.60 | |
| Chande Momentum Oscillator (20): | 4.01 | |
| Repulse (5,40,3): | 2.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 6.20 |
| MA7: | 72.07 | |
| MA20: | 76.70 | |
| MA50: | 78.69 | |
| MA100: | 81.90 | |
| MAexp7: | 72.78 | |
| MAexp20: | 71.73 | |
| MAexp50: | 72.36 | |
| MAexp100: | 74.16 | |
| Price / MA7: | +2.65% | |
| Price / MA20: | -3.55% | |
| Price / MA50: | -5.99% | |
| Price / MA100: | -9.67% | |
| Price / MAexp7: | +1.65% | |
| Price / MAexp20: | +3.14% | |
| Price / MAexp50: | +2.24% | |
| Price / MAexp100: | -0.24% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on COSTAR GROUP INC.. At the time of publication of this analysis, the latest news was as follows:
- CoStar Group’s Andy Florance Wins Gold Stevie® Award in 2023 International Business Awards®
- CoStar Group Partners with Richmond Public Schools to Provide School Supplies for More than 35,000 Students
- CoStar Group Appoints Angelique Brunner to Board of Directors
- CoStar Group Second Quarter 2023 Revenue Increased 13% Year-over-Year and Net New Bookings Were $82 Million. CoStar Group Reaches 105 Million Monthly Visitors.
- Ten-X Announces Season 2 of “Battle of the Bids” Property Auction Competition with Enhanced Features and Larger Prizes
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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