Chemed Corp Stock Forecast
Weaker technical forecast for Chemed Corp as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Chemed Corp stock price fell by -1.12% on the last day (Thursday, 18th Apr 2024) from $604.17 to $597.42. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 1.65% from a day low at $595.69 to a day high of $605.51. The price has fallen in 8 of the last 10 days and is down by -5.07% for this period. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 68 thousand shares were bought and sold for approximately $40.75 million.
Given the current short-term trend, the stock is expected to rise 7.99% during the next 3 months and, with a 90% probability hold a price between $645.13 and $720.72 at the end of this 3-month period.
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CHE Signals & Forecast
There are few to no technical positive signals at the moment. The Chemed Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $612.19 and $633.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -8.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Chemed Corp stock
Chemed Corp finds support from accumulated volume at $592.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $9.82 (1.65%) between high and low. For the last week, the stock has had daily average volatility of 1.47%.
Chemed Corp is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Chemed Corp to open at $599.54, and during the day (based on 14 day Average True Range), to move between $588.69 and $606.15, which gives a possible trading interval of +/-$8.73 (+/-1.46%) up or down from last closing price. If Chemed Corp takes out the full calculated possible swing range there will be an estimated 2.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $592.41 (0.84%) than the resistance at $628.84 (5.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Chemed Corp will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $5.47. We will update the financials statements for Chemed Corp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.64% in the first trading day after earnings release.
Is Chemed Corp stock A Buy?
The Chemed Corp stock holds several negative signals and despite the positive trend, we believe Chemed Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.692 Sell Candidate Downgraded
Predicted Opening Price for Chemed Corp of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$599.54 ( 0.355%) | $597.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 609.36 | 2.00 % | |
R2 | 605.61 | 1.37 % | ||
R1 | 603.29 | 0.98 % | ||
Current price: | 597.42 | |||
Support | S1 | 595.79 | -0.273 % | |
S2 | 593.47 | -0.661 % | ||
S3 | 589.72 | -1.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 646.99 | 8.30 % | |
R2 | 641.81 | 7.43 % | ||
R1 | 628.84 | 5.26 % | ||
Current price | 597.42 | |||
Support | S1 | 592.41 | -0.84% | |
S2 | 589.05 | -1.40% | ||
S3 | 589.00 | -1.41% |
CHE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 23, 2024 | Feb 23, 2024 | Feb 23, 2024 | $0 | 0% |
2 | Nov 03, 2023 | Nov 10, 2023 | Dec 04, 2023 | $0.400 | 0.0691% |
3 | Aug 04, 2023 | Aug 11, 2023 | Sep 05, 2023 | $0.400 | 0.0800% |
4 | May 15, 2023 | May 24, 2023 | Jun 14, 2023 | $0.380 | 0.0706% |
5 | Feb 17, 2023 | Feb 24, 2023 | Mar 17, 2023 | $0.380 | 0.0738% |
FAQ
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