Cherry Hill Mortgage Investment Corp Stock Forecast
Cherry Hill Mortgage Investment Corp stock price up 1.11% on Tuesday
(Updated on Jul 02, 2024)
The Cherry Hill Mortgage Investment Corp stock price gained 1.11% on the last trading day (Tuesday, 2nd Jul 2024), rising from $3.59 to $3.63. During the last trading day the stock fluctuated 1.96% from a day low at $3.57 to a day high of $3.64. The price has risen in 6 of the last 10 days but is still down by -4.97% for this period. Volume fell on the last day by -42 thousand shares and in total, 134 thousand shares were bought and sold for approximately $487.57 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 lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.60 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 15.30% during the next 3 months and, with a 90% probability hold a price between $4.15 and $4.62 at the end of this 3-month period.
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CHMI Signals & Forecast
There are few to no technical positive signals at the moment. The Cherry Hill Mortgage Investment Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.79 and $3.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -8.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 for Cherry Hill Mortgage Investment Corp stock
Cherry Hill Mortgage Investment Corp finds support from accumulated volume at $3.55 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0700 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHMI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Cherry Hill Mortgage Investment Corporation to open at $3.61, and during the day (based on 14 day Average True Range), to move between $3.53 and $3.73, which gives a possible trading interval of +/-$0.0953 (+/-2.62%) up or down from last closing price. If Cherry Hill Mortgage Investment Corporation takes out the full calculated possible swing range there will be an estimated 5.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.70 (1.93%) than the support at $3.55 (2.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Cherry Hill Mortgage Investment Corporation stock A Buy?
The Cherry Hill Mortgage Investment Corp stock holds several negative signals and despite the positive trend, we believe Cherry Hill Mortgage Investment Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.825 Sell Candidate Unchanged
Predicted Opening Price for Cherry Hill Mortgage Investment Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $3.61 ( 0.459%) | $3.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHMI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.68 | 1.47% |
| R2 | 3.66 | 0.733% |
| R1 | 3.64 | 0.278% |
| Price | 3.63 | |
| S1 | 3.59 | -1.20% |
| S2 | 3.57 | -1.65% |
| S3 | 3.54 | -2.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.89 | 7.16% |
| R2 | 3.74 | 3.03% |
| R1 | 3.70 | 1.93% |
| Price | 3.63 | |
| S1 | 3.55 | -2.20% |
| S2 | 3.51 | -3.31% |
| S3 | 3.49 | -3.86% |
CHMI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 31, 2024 | $0.150 | 4.13% |
| 2 | Jun 13, 2024 | Jun 27, 2024 | Jul 31, 2024 | $0.150 | 4.13% |
| 3 | Mar 27, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.150 | 4.36% |
| 4 | Dec 08, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.150 | 4.18% |
| 5 | Sep 14, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.150 | 5.05% |
FAQ
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