City Holding Company Stock Forecast
City Holding Company stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The City Holding Company stock price fell by -0.88% on the last day (Thursday, 25th Apr 2024) from $106.14 to $105.21. During the last trading day the stock fluctuated 1.90% from a day low at $103.85 to a day high of $105.82. The price has risen in 7 of the last 10 days and is up by 5.86% over the past 2 weeks. Volume has increased on the last day by 8 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, 58 thousand shares were bought and sold for approximately $6.14 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $106.12 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect City Holding Company stock with a 90% probability to be traded between $97.36 and $105.17 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CHCO Signals & Forecast
The City Holding Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $102.92 and $101.77. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.88%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Monday, March 18, 2024 and based on theory for this formation the price should go up by 1.11% to $106.37 within 27 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for City Holding Company stock
City Holding Company finds support from accumulated volume at $102.21 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 $1.97 (1.90%) between high and low. For the last week, the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHCO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect City Holding Company to open at $104.96, and during the day (based on 14 day Average True Range), to move between $103.07 and $107.35, which gives a possible trading interval of +/-$2.14 (+/-2.03%) up or down from last closing price. If City Holding Company takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $106.14 (0.88%) than the support at $102.21 (2.85%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is City Holding Company stock A Buy?
City Holding Company holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.523 Sell Candidate Downgraded
Predicted Opening Price for City Holding Company of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $104.96 ( 0.238%) | $105.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 106.93 | 1.63 % | |
| R2 | 106.18 | 0.92 % | ||
| R1 | 105.71 | 0.478 % | ||
| Current price: | 105.21 | |||
| Support | S1 | 104.21 | -0.95 % | |
| S2 | 103.74 | -1.39 % | ||
| S3 | 102.99 | -2.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.10 | 1.80 % | |
| R2 | 106.51 | 1.24 % | ||
| R1 | 106.14 | 0.88 % | ||
| Current price | 105.21 | |||
| Support | S1 | 102.21 | -2.85% | |
| S2 | 101.56 | -3.47% | ||
| S3 | 100.32 | -4.65% |
CHCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.720 | 0.684% |
| 2 | Nov 14, 2023 | Jan 11, 2024 | Jan 31, 2024 | $0.715 | 0.700% |
| 3 | Sep 27, 2023 | Oct 12, 2023 | Oct 31, 2023 | $0.720 | 0.793% |
| 4 | May 31, 2023 | Jul 13, 2023 | Jul 31, 2023 | $0.650 | 0.657% |
| 5 | Mar 29, 2023 | Apr 13, 2023 | Jul 31, 2023 | $0.650 | 0.657% |
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