CNA Financial Corporation Stock Forecast
Green day on Thursday for CNA Financial Corporation
(Updated on May 02, 2024)
The CNA Financial Corporation stock price gained 0.112% on the last trading day (Thursday, 2nd May 2024), rising from $44.53 to $44.58. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.01% from a day low at $44.34 to a day high of $44.79. The price has risen in 7 of the last 10 days and is up by 2.86% 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, 49 thousand more shares were traded than the day before. In total, 184 thousand shares were bought and sold for approximately $8.18 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $44.73 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.80% during the next 3 months and, with a 90% probability hold a price between $40.23 and $43.03 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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CNA Signals & Forecast
The CNA 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 $43.99 and $44.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.13%. Further rise is indicated until a new top pivot has been found. 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. The stock had a Golden Star Signal on Tuesday, April 30, 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, April 30, 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 CNA Financial Corporation stock
CNA Financial Corporation finds support from accumulated volume at $44.26 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 $0.448 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 1.35%.
Our recommended stop-loss: $42.34 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (CNA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect CNA Financial Corporation to open at $44.57, and during the day (based on 14 day Average True Range), to move between $43.93 and $45.23, which gives a possible trading interval of +/-$0.651 (+/-1.46%) up or down from last closing price. If CNA Financial Corporation 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 $44.26 (0.72%) than the resistance at $46.09 (3.39%), 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
CNA Financial Corporation will release earnings BMO on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.36. We will update the financials statements for CNA Financial Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.15% in the first trading day after earnings release.
Is CNA Financial Corporation stock A Buy?
CNA Financial Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.729 Hold/Accumulate Unchanged
Predicted Opening Price for CNA Financial Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $44.57 ( 0.0239%) | $44.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.02 | 0.98 % | |
| R2 | 44.85 | 0.597 % | ||
| R1 | 44.74 | 0.360 % | ||
| Current price: | 44.58 | |||
| Support | S1 | 44.40 | -0.408 % | |
| S2 | 44.29 | -0.645 % | ||
| S3 | 44.12 | -1.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.18 | 5.83 % | |
| R2 | 46.42 | 4.13 % | ||
| R1 | 46.09 | 3.39 % | ||
| Current price | 44.58 | |||
| Support | S1 | 44.26 | -0.718% | |
| S2 | 43.84 | -1.66% | ||
| S3 | 43.67 | -2.04% |
CNA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 07, 2024 | $1.76 | 4.03% |
| 2 | Oct 30, 2023 | Nov 10, 2023 | Nov 30, 2023 | $0.420 | 1.00% |
| 3 | Jul 31, 2023 | Aug 11, 2023 | Aug 31, 2023 | $0.420 | 1.07% |
| 4 | May 01, 2023 | May 12, 2023 | Jun 01, 2023 | $0.420 | 1.14% |
| 5 | Feb 06, 2023 | Feb 17, 2023 | Mar 09, 2023 | $1.62 | 4.02% |
FAQ
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