Chemed Corp Stock Forecast
Chemed Corp stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Chemed Corp stock price gained 0.397% on the last trading day (Tuesday, 2nd Jul 2024), rising from $539.54 to $541.68. During the last trading day the stock fluctuated 1.14% from a day low at $537.35 to a day high of $543.46. The price has been going up and down for this period, and there has been a 0.49% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 52 thousand more shares were traded than the day before. In total, 109 thousand shares were bought and sold for approximately $58.94 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 $546.47 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 -14.72% during the next 3 months and, with a 90% probability hold a price between $442.39 and $466.05 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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CHE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 1.74%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chemed Corp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $548.41. On a fall, the stock will find some support from the short-term average at $541.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Chemed Corp stock
Chemed Corp finds support from accumulated volume at $541.26 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 $6.11 between high and low, or 1.14%. For the last week the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: $513.00 (-5.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (CHE) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Chemed Corp to open at $540.83, and during the day (based on 14 day Average True Range), to move between $533.50 and $549.86, which gives a possible trading interval of +/-$8.18 (+/-1.51%) up or down from last closing price. If Chemed Corp takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $541.26 (0.08%) than the resistance at $544.17 (0.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chemed Corp stock A Buy?
Chemed Corp 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.556 Hold/Accumulate Upgraded
Predicted Opening Price for Chemed Corp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $540.83 ( 0.157%) | $541.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 546.94 | 0.97% |
| R2 | 544.61 | 0.540% |
| R1 | 543.16 | 0.274% |
| Price | 541.68 | |
| S1 | 538.49 | -0.588% |
| S2 | 537.05 | -0.85% |
| S3 | 534.72 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 575.24 | 6.20% |
| R2 | 573.34 | 5.84% |
| R1 | 544.17 | 0.460% |
| Price | 541.68 | |
| S1 | 541.26 | -0.0775% |
| S2 | 540.59 | -0.201% |
| S3 | 538.52 | -0.583% |
CHE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 18, 2024 | $0.400 | 0.0751% |
| 2 | Feb 16, 2024 | Feb 23, 2024 | Mar 15, 2024 | $0.400 | 0.0618% |
| 3 | Nov 03, 2023 | Nov 10, 2023 | Dec 04, 2023 | $0.400 | 0.0691% |
| 4 | Aug 04, 2023 | Aug 11, 2023 | Sep 05, 2023 | $0.400 | 0.0800% |
| 5 | May 15, 2023 | May 24, 2023 | Jun 14, 2023 | $0.380 | 0.0706% |
FAQ
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