Is Covisint Corp. (NASDAQ:COVS) a paper tiger?


Shares of Covisint Corporation (NASDAQ:COVS) last traded at $2.45. (NASDAQ:COVS) performance year to date is 28.95%. The 200 day simple moving average is 18.53%. The 200 SMA is considered a major indicator by market analysts and traders for determining the long-term trend. The price in the market that coincides with the 200 day SMA is recognized as a key support when price moves above the 200 day SMA or resistance when price drops below the same.

Covisint Corporation offers cloud engagement platform. The company’s solutions enable organizations to connect, engage and collaborate with the customers, business partners and suppliers. Covisint Corporation is headquartered in Detroit, Michigan.

Covisint Corporation (NASDAQ:COVS) has been in the buzz for all the right reasons.

The Barchart Technical Opinion rating is a 88% Buy with a Strongest short term outlook on maintaining the current direction. Longer term, the trend strength is Maximum. Long term indicators mostly agree with the trend.

The Exponential Moving Average is similar to a simple moving average but it uses a weighting element that exponentially drops from the recent data point. EMA analysis assesses the short term,5 days and 13 days, intermediate term that is 20 days and long-term 50 days EMA. These EMAs will give bullish indications when moving above trailing EMAs and below the latest price and vice versa. EMA alerts comprise crossovers that is the 5 day EMA crosses below/above the 20 day EMA and EMA convergences, 5 day EMA comparable to 13 day EMA. The long term and short term EMA’s of 2.20 and 1.99 are lower than the current trading price suggesting a bullish pattern in both short term as well as long term. .

The relative strength index is a momentum oscillator that can measure the magnitude of stock price and velocity changes. Momentum is computed as the ratio of plus price changes to negative price changes. The RSI assessment compares the prevailing RSI against oversold (30), overbought (70) and neutral (50) conditions. Alerts will apprise you when stocks retreat from overbought/oversold levels or breakthrough neutral (50). The current RSI is 72.83 suggesting a bullish price action.

Covisint Corporation (NASDAQ:COVS) is all set to report its earnings on Jun 05/a. As per Zack’s analyst scores, Covisint Corporation (NASDAQ:COVS) currently has a mean brokerage rating of . On a scale of 1-5, a rating of 1 or 2 would imply a buy, and a rating of 4 or 5 would indicate a sell recommendation. A rating of 3 would represent a hold on the equity. The consensus target price on (NASDAQ:COVS) is $ with a high of $ and a low of $.

As such, while we consider Covisint Corporation (NASDAQ:COVS) represents a enthralling growth story open to several attractive markets, it would be fascinating to see how it works for long-term shareholders.

Covisint Corporation (NASDAQ:COVS) the leading Cloud Platform for building Identity and Internet of Things (IoT) applications, today announced that it has entered into a definitive agreement to be acquired by OpenText(TM) (NASDAQ:OTEX) (TSX:OTEX.TO), the global leader in Enterprise Information Management (EIM).

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