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Chemung Financial Corp Stock Forecast NASDAQ:CHMG

$46.35 (0.35%)

Volume: 4k

Closed: Oct 15, 2021

Hollow Logo Score: 2.632

Chemung Financial Corp Stock Forecast

$46.35 (0.35%)

Volume: 4k

Closed: Oct 15, 2021

Score Hollow Logo 2.632
Which way will CHMG go? Request
Stop-loss: $44.70 (-3.57%)
Earnings Date: Oct 18, 2021
Key Stats
Trailing Dividend Rate 2.44% ($1.13)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 64 and the stock is currently not being overbought or oversold

Green day on Friday for Chemung Financial Corp
(Updated on Oct 15, 2021)


Buy or Hold candidate since 2021-09-28 Gain 4.39%

The Chemung Financial Corp stock price gained 0.35% on the last trading day (Friday, 15th Oct 2021), rising from $46.19 to $46.35. During the day the stock fluctuated 2.83% from a day low at $45.97 to a day high of $47.27. The price has been going up and down for this period, and there has been a 3.6% gain for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 4 thousand shares were bought and sold for approximately $170.34 thousand. 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Chemung Financial Corp stock with a 90% probability to be traded between $44.58 and $49.05 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals & Forecast

The Chemung Financial Corp 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 $46.02 and $45.74. 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). 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 Tuesday, October 12, 2021, and so far it has fallen -1.02%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss

Chemung Financial Corp finds support from accumulated volume at $46.32 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $1.30 between high and low, or 2.83%. For the last week the stock has had a daily average volatility of 3.52%.

Our recommended stop-loss: $44.70 (-3.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Is Chemung Financial Corp stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Chemung Financial Corp stock to perform well in the short-term period.

Current score: 2.632

Predicted Opening Price for Chemung Financial Corp of Monday, October 18, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price October 18, 2021 Current price
$46.53 $46.35 (Undervalued)
Buy Candidate Unchanged

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Analyst Ratings

DA Davidson does not see either upside or downside right now giving CHMG "Buy - Neutral" on their last update on Oct 22, 2020. The price target was changed from $32.00 to $37.00.

Volatility and Risk
Daily Average Volatility: 3.52 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.52 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $46.60
Price: $46.35
Support: $46.32

CHMG Insider Trading Show all Trades

INSIDER POWER

1.096

Last 100 transactions
Buy: 297 795 | Sell: 271 637 (Shares)
Date Action Amount Person Type
Aug 19, 2021 Buy 883 Streeter Jeffrey B Common Stock
Aug 18, 2021 Buy 200 Streeter Jeffrey B Common Stock
Aug 17, 2021 Buy 750 Streeter Jeffrey B Common Stock
Aug 16, 2021 Buy 1 Streeter Jeffrey B Common Stock
Aug 13, 2021 Buy 600 Streeter Jeffrey B Common Stock
Show all Insider Trades
INSIDER POWER

1.096

Last 100 transactions
Buy: 297 795 | Sell: 271 637 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 47.83 3.20 %
47.34 2.13 %
47.03 1.46 %
Current price: 46.35
Support 46.03 -0.68 %
45.73 -1.35 %
45.23 -2.42 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 47.33 2.11 %
47.16 1.75 %
46.60 0.54 %
Current price 46.35
Support 46.32 -0.0647%
46.30 -0.11%
45.70 -1.40%

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About Chemung Financial Corp

Chemung Financial Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company, which provides a range of banking, financing, fiduciary, and other financial services primarily in New York. It offers demand, savings, and time deposits; non-interest- and interest-bearing checking accounts; and insured money market accounts. The company also provides commercial and agricultural loans primarily consisting of loans to small to mid-sized... Read more

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