Community Health Systems Inc Stock Forecast
Community Health Systems Inc stock upgraded to Buy Candidate.
(Updated on Mar 28, 2024)
The Community Health Systems Inc stock price gained 2.94% on the last trading day (Thursday, 28th Mar 2024), rising from $3.40 to $3.50. During the last trading day the stock fluctuated 4.59% from a day low at $3.38 to a day high of $3.53. The price has risen in 8 of the last 10 days and is up by 27.27% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 155 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $4.70 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.51% during the next 3 months and, with a 90% probability hold a price between $2.03 and $3.29 at the end of this 3-month period. 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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CYH Signals & Forecast
The Community Health Systems Inc 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 $3.40 and $3.21. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, March 21, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Community Health Systems Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.90 and $2.78. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Community Health Systems Inc finds support just below today's level at $2.90. If this is broken, then the next support from accumulated volume will be at $2.78 and $2.64.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.155 between high and low, or 4.59%. For the last week, the stock has had daily average volatility of 5.62%.
Our recommended stop-loss: $3.35 (-4.31%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (CYH) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Community Health Systems Inc to open at $3.47, and during the day (based on 14 day Average True Range), to move between $3.30 and $3.70, which gives a possible trading interval of +/-$0.204 (+/-5.83%) up or down from last closing price. If Community Health Systems Inc takes out the full calculated possible swing range there will be an estimated 11.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.58 (2.29%) than the support at $2.90 (17.14%), 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 Community Health Systems Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.144 Buy Candidate Upgraded
Predicted Opening Price for Community Health Systems Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.47 ( 0.90%) | $3.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.62 | 3.52 % | |
R2 | 3.56 | 1.83 % | ||
R1 | 3.53 | 0.787 % | ||
Current price: | 3.50 | |||
Support | S1 | 3.41 | -2.60 % | |
S2 | 3.37 | -3.64 % | ||
S3 | 3.31 | -5.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.83 | 9.43 % | |
R2 | 3.63 | 3.71 % | ||
R1 | 3.58 | 2.29 % | ||
Current price | 3.50 | |||
Support | S1 | 2.90 | -17.14% | |
S2 | 2.78 | -20.57% | ||
S3 | 2.64 | -24.57% |
CYH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 07, 2012 | Dec 13, 2012 | Dec 28, 2012 | $0.207 | 0.690% |
FAQ
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