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Concord Acquisition Corp II (NYSE: CNDA) Is Up 0.31% – Is It Capable Of A Rally?

Concord Acquisition Corp II (NYSE:CNDA) traded at $9.84 at last check on Wednesday, November 23, made an upward move of 0.31% on its previous day’s price.

Looking at the stock we see that its previous close was $9.81 with the day’s price range being $9.78 – $9.82. The company has a trailing 12-month PE ratio of 24.28. In terms of its 52-week price range, CNDA has a high of $10.23 and a low of $9.60. The company’s stock has gained about 0.72% over that past 30 days.

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Concord Acquisition Corp II has a market cap of $343.45 million.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CNDA stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Looking further, we note the current price level is 0.44% off its SMA20 and 0.94% from its 50-day simple moving average. The RSI (14) is pointing at 64.49 while the volatility over the past week is 0.09% and jumps to 0.19% over the past one month.

Coming back to Concord Acquisition Corp II (NYSE:CNDA), we note that the average 3-month trading volume was 42.04K, while that of the preceding 10-day period stands at 0.1 million. Current shares outstanding are 35.01 million.

The institutions hold 90.70%. The data shows that short shares as of Oct 30, 2022, stood at 16170.000000000002 at a short ratio of 1.63. This represents a 0.05% short interest in shares outstanding on Oct 30, 2022. Shares short rose in October from the previous month at 15000.0. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 0.62% up in year-to-date price movement.

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