Chemed Corp Stock Forecast
Weaker technical forecast for Chemed Corp as stock downgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
The Chemed Corp stock price gained 0.263% on the last trading day (Tuesday, 30th Apr 2024), rising from $566.51 to $568.00. During the last trading day the stock fluctuated 1.11% from a day low at $564.63 to a day high of $570.91. The price has risen in 6 of the last 10 days but is still down by -6.88% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 99 thousand shares were bought and sold for approximately $56.43 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $560.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.24% during the next 3 months and, with a 90% probability hold a price between $573.48 and $672.21 at the end of this 3-month period.
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CHE Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.35%. Further rise is indicated until a new top pivot has been found. 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $586.74 and $622.93. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Chemed Corp stock
Chemed Corp finds support from accumulated volume at $566.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $6.28 between high and low, or 1.11%. For the last week, the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: $533.96 (-5.99%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CHE) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Chemed Corp to open at $567.85, and during the day (based on 14 day Average True Range), to move between $555.60 and $580.40, which gives a possible trading interval of +/-$12.40 (+/-2.18%) up or down from last closing price. If Chemed Corp takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $566.51 (0.26%) than the resistance at $573.34 (0.94%), 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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.381 Hold/Accumulate Downgraded
Predicted Opening Price for Chemed Corp of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $567.85 ( 0.0273%) | $568.00 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 574.13 | 1.08 % | |
| R2 | 571.73 | 0.657 % | ||
| R1 | 570.25 | 0.395 % | ||
| Current price: | 568.00 | |||
| Support | S1 | 565.44 | -0.450 % | |
| S2 | 563.96 | -0.711 % | ||
| S3 | 561.56 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 628.84 | 10.71 % | |
| R2 | 589.05 | 3.71 % | ||
| R1 | 573.34 | 0.94 % | ||
| Current price | 568.00 | |||
| Support | S1 | 566.51 | -0.262% | |
| S2 | 560.42 | -1.33% | ||
| S3 | 0 | . |
CHE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Feb 23, 2024 | $0 | 0% |
| 2 | Nov 03, 2023 | Nov 10, 2023 | Dec 04, 2023 | $0.400 | 0.0691% |
| 3 | Aug 04, 2023 | Aug 11, 2023 | Sep 05, 2023 | $0.400 | 0.0800% |
| 4 | May 15, 2023 | May 24, 2023 | Jun 14, 2023 | $0.380 | 0.0706% |
| 5 | Feb 17, 2023 | Feb 24, 2023 | Mar 17, 2023 | $0.380 | 0.0738% |
FAQ
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