City Holding Company Stock Forecast
Green day on Monday for City Holding Company
(Updated on May 06, 2024)
The City Holding Company stock price gained 1.88% on the last trading day (Monday, 6th May 2024), rising from $104.47 to $106.43. During the last trading day the stock fluctuated 2.01% from a day low at $104.49 to a day high of $106.59. The price has been going up and down for this period, and there has been a 2.79% gain for the last 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 42 thousand shares were bought and sold for approximately $4.47 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $106.36 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $113.99 sometime during the next 3 months.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CHCO Signals & Forecast
Mostly positive signals in the chart today. 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 $103.95 and $102.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 5.36%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Monday, March 18, 2024 with a target of $106.07. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for City Holding Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $100.32 and $100.02. 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, City Holding Company finds support just below today's level at $100.32. If this is broken, then the next support from accumulated volume will be at $100.02 and $98.55.
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 $2.11 (2.01%) between high and low. For the last week, the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: $102.85 (-3.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CHCO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect City Holding Company to open at $105.84, and during the day (based on 14 day Average True Range), to move between $104.24 and $108.62, which gives a possible trading interval of +/-$2.19 (+/-2.06%) up or down from last closing price. If City Holding Company takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $100.32, some $6.11 (5.74%) from the current price of $106.43, our system finds the risk reward attractive.
Is City Holding Company stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for City Holding Company stock to perform well in the short-term period.
Current score: 4.537 Buy Candidate Unchanged
Predicted Opening Price for City Holding Company of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $105.84 ( 0.559%) | $106.43 |
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 | 107.94 | 1.42 % | |
| R2 | 107.14 | 0.663 % | ||
| R1 | 106.64 | 0.196 % | ||
| Current price: | 106.43 | |||
| Support | S1 | 105.03 | -1.31 % | |
| S2 | 104.53 | -1.78 % | ||
| S3 | 103.73 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 106.43 | |||
| Support | S1 | 100.32 | -5.74% | |
| S2 | 100.02 | -6.02% | ||
| S3 | 98.55 | -7.40% |
CHCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.720 | 0.713% |
| 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% |
FAQ
Click here for our free guide on how to buy City Holding Company Stock.
