COSTAR GROUP INC. - 1H - Technical analysis published on 08/22/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 74.39 USD
My targets
76.72 USD (+1.55%)
77.97 USD (+3.20%)
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 74.39 USD. The buyers' bullish objective is set at 76.72 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 77.97 USD. If there is any crossing, the next objective would be the resistance located at 79.99 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.6
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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 75.55 USD. The price registered a decrease of -0.05% on the session and was traded between 75.02 USD and 76.18 USD over the period. The price is currently at +0.71% from its lowest and -0.83% from its highest.75.02
76.18
75.55
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by COSTAR GROUP INC.:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of COSTAR GROUP INC. indicates that the overall trend is strongly bullish. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
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 which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 73.04 | 74.39 | 75.49 | 75.55 | 76.72 | 77.97 | 79.99 |
| Change (%) | -3.32% | -1.54% | -0.08% | - | +1.55% | +3.20% | +5.88% |
| Change | -2.51 | -1.16 | -0.06 | - | +1.17 | +2.42 | +4.44 |
| Level | Minor | Minor | Intermediate | - | Minor | Minor | Major |
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 | 74.27 | 74.56 | 75.07 | 75.36 | 75.87 | 76.16 | 76.67 |
| Camarilla | 75.37 | 75.44 | 75.52 | 75.59 | 75.66 | 75.74 | 75.81 |
| Woodie | 74.39 | 74.62 | 75.19 | 75.42 | 75.99 | 76.22 | 76.79 |
| Fibonacci | 74.56 | 74.86 | 75.05 | 75.36 | 75.66 | 75.85 | 76.16 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.15 | 70.42 | 72.23 | 73.50 | 75.31 | 76.58 | 78.39 |
| Camarilla | 73.19 | 73.48 | 73.76 | 74.04 | 74.32 | 74.61 | 74.89 |
| Woodie | 69.42 | 70.56 | 72.50 | 73.64 | 75.58 | 76.72 | 78.66 |
| Fibonacci | 70.42 | 71.60 | 72.32 | 73.50 | 74.68 | 75.40 | 76.58 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.27 | 66.07 | 72.04 | 76.84 | 82.81 | 87.61 | 93.58 |
| Camarilla | 75.06 | 76.05 | 77.03 | 78.02 | 79.01 | 80.00 | 80.98 |
| Woodie | 61.87 | 66.36 | 72.64 | 77.13 | 83.41 | 87.90 | 94.18 |
| Fibonacci | 66.07 | 70.18 | 72.72 | 76.84 | 80.95 | 83.49 | 87.61 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 57.19 | |
| MACD (12,26,9): | 0.3300 | |
| Directional Movement: | 8.78 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 75.67 | |
| Parabolic SAR (0,02-0,02-0,2): | 75.25 | |
| Elder Ray (13): | 0.04 | |
| Super Trend (3,10): | 74.46 | |
| Zig ZAG (10): | 75.56 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 63.57 | |
| TEMA (21): | 75.74 | |
| Williams %R (14): | -38.62 | |
| Chande Momentum Oscillator (20): | 0.31 | |
| Repulse (5,40,3): | -0.1100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 1.92 |
| MA7: | 74.71 | |
| MA20: | 75.12 | |
| MA50: | 74.74 | |
| MA100: | 80.92 | |
| MAexp7: | 75.50 | |
| MAexp20: | 75.20 | |
| MAexp50: | 74.74 | |
| MAexp100: | 74.73 | |
| Price / MA7: | +1.12% | |
| Price / MA20: | +0.57% | |
| Price / MA50: | +1.08% | |
| Price / MA100: | -6.64% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.47% | |
| Price / MAexp50: | +1.08% | |
| Price / MAexp100: | +1.10% |
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:
- Shareholder Alert: Ademi LLP investigates whether Matterport, Inc. has obtained a Fair Price in its transaction with CoStar Group
- 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.
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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