COSTAR GROUP INC. - 1H - Technical analysis published on 09/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 78.91 USD
My targets
77.17 USD (-1.33%)
75.85 USD (-3.02%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on COSTAR GROUP INC. as long as the price remains well below 78.91 USD. The sellers' bearish objective is set at 77.17 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 75.85 USD. In case of crossing, the next objective would be the support located at 69.58 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.9
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
COSTAR GROUP INC. rating 78.21 USD. On the day, this instrument lost -0.03% and was traded between 78.19 USD and 79.03 USD over the period. The price is currently at +0.03% from its lowest and -1.04% from its highest.78.19
79.03
78.21
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of COSTAR GROUP INC. in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish 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, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 75.85 | 77.17 | 77.89 | 78.21 | 78.91 | 80.09 | 81.16 |
| Change (%) | -3.02% | -1.33% | -0.41% | - | +0.90% | +2.40% | +3.77% |
| Change | -2.36 | -1.04 | -0.32 | - | +0.70 | +1.88 | +2.95 |
| Level | Intermediate | Major | Major | - | Minor | Intermediate | 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 | 74.94 | 76.50 | 77.37 | 78.93 | 79.80 | 81.36 | 82.23 |
| Camarilla | 77.56 | 77.79 | 78.01 | 78.23 | 78.45 | 78.68 | 78.90 |
| Woodie | 74.59 | 76.33 | 77.02 | 78.76 | 79.45 | 81.19 | 81.88 |
| Fibonacci | 76.50 | 77.43 | 78.01 | 78.93 | 79.86 | 80.44 | 81.36 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.79 | 75.57 | 77.34 | 80.12 | 81.89 | 84.67 | 86.44 |
| Camarilla | 77.87 | 78.29 | 78.70 | 79.12 | 79.54 | 79.95 | 80.37 |
| Woodie | 72.30 | 75.32 | 76.85 | 79.87 | 81.40 | 84.42 | 85.95 |
| Fibonacci | 75.57 | 77.31 | 78.38 | 80.12 | 81.86 | 82.93 | 84.67 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 71.94 | 74.56 | 78.27 | 80.89 | 84.60 | 87.22 | 90.93 |
| Camarilla | 80.25 | 80.83 | 81.41 | 81.99 | 82.57 | 83.15 | 83.73 |
| Woodie | 72.50 | 74.83 | 78.83 | 81.16 | 85.16 | 87.49 | 91.49 |
| Fibonacci | 74.56 | 76.98 | 78.47 | 80.89 | 83.31 | 84.80 | 87.22 |
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): | 37.74 | |
| MACD (12,26,9): | -0.5100 | |
| Directional Movement: | -10.18 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 78.46 | |
| Parabolic SAR (0,02-0,02-0,2): | 79.27 | |
| Elder Ray (13): | -0.52 | |
| Super Trend (3,10): | 79.80 | |
| Zig ZAG (10): | 78.29 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 10.64 | |
| TEMA (21): | 78.24 | |
| Williams %R (14): | -93.71 | |
| Chande Momentum Oscillator (20): | -1.40 | |
| Repulse (5,40,3): | -0.5100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 6.17 |
| MA7: | 79.60 | |
| MA20: | 81.31 | |
| MA50: | 82.61 | |
| MA100: | 82.15 | |
| MAexp7: | 78.51 | |
| MAexp20: | 79.08 | |
| MAexp50: | 79.83 | |
| MAexp100: | 80.49 | |
| Price / MA7: | -1.75% | |
| Price / MA20: | -3.81% | |
| Price / MA50: | -5.33% | |
| Price / MA100: | -4.80% | |
| Price / MAexp7: | -0.38% | |
| Price / MAexp20: | -1.10% | |
| Price / MAexp50: | -2.03% | |
| Price / MAexp100: | -2.83% |
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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