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This report is an updated version of the report published on the 5 April 2024 at 3:55 PM AEDT.
Cogstate Limited (ASX: CGS)
Cogstate Limited (ASX: CGS) is a neuroscience technology company based in the United States. The ASX-listed company is committed to optimising cognitive assessments to aid the development of new therapeutics and delivering earlier brain health insights in clinical care.
Recommendation Rationale – SELL at AUD 1.35
CGS Daily Chart
Considering that the stock has surpassed its R1 level, the current trading levels, share price movement, and risks associated, it is prudent to book profit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current market price of AUD 1.35, at 10:15 AM as of April 05, 2024, AEST.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is April 05, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.
Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.
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