Cincinnati Financial Corporation Stock Forecast

Cincinnati Financial Corporation stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)

CINF Signals & Forecast

A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -2.69%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Cincinnati Financial Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $118.35 and $119.25. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Wednesday, December 27, 2023 in the long-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 Cincinnati Financial Corporation stock

Cincinnati Financial Corporation finds support from accumulated volume at $119.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.16 between high and low, or 0.96%. For the last week the stock has had daily average volatility of 1.50%.

Our recommended stop-loss: $116.99 (-3.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (CINF) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Cincinnati Financial Corporation to open at $121.13, and during the day (based on 14 day Average True Range), to move between $118.76 and $122.90, which gives a possible trading interval of +/-$2.07 (+/-1.71%) up or down from last closing price. If Cincinnati Financial Corporation takes out the full calculated possible swing range there will be an estimated 3.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $119.90 (0.77%) than the resistance at $122.17 (1.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cincinnati Financial Corporation stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.170 Buy Candidate Upgraded

Predicted Opening Price for Cincinnati Financial Corporation of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.