Cherry Hill Mortgage Investment Corp Stock Forecast
Cherry Hill Mortgage Investment Corp stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Cherry Hill Mortgage Investment Corp stock price fell by -4.48% on the last day (Friday, 28th Jun 2024) from $23.46 to $22.41. During the last trading day the stock fluctuated 3.09% from a day low at $22.31 to a day high of $23.00. The price has been going up and down for this period, and there has been a -3.15% loss for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 thousand shares were bought and sold for approximately $133.79 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.19% during the next 3 months and, with a 90% probability hold a price between $22.94 and $24.75 at the end of this 3-month period.
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CHMI-PA 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 $23.25 and $22.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -4.84%. 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). Cherry Hill Mortgage Investment Corp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Cherry Hill Mortgage Investment Corp stock
Cherry Hill Mortgage Investment Corp finds support from accumulated volume at $22.25 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 $0.690 between high and low, or 3.09%. For the last week the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHMI-PA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Cherry Hill Mortgage Investment Corporation to open at $22.57, and during the day (based on 14 day Average True Range), to move between $22.00 and $22.82, which gives a possible trading interval of +/-$0.408 (+/-1.82%) 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 3.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.25 (0.71%) than the resistance at $22.63 (0.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.425 Sell Candidate Downgraded
Predicted Opening Price for Cherry Hill Mortgage Investment Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $22.57 ( 0.729%) | $22.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHMI-PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.26 | 3.81% |
| R2 | 23.00 | 2.63% |
| R1 | 22.84 | 1.91% |
| Price | 22.41 | |
| S1 | 22.31 | -0.447% |
| S2 | 22.15 | -1.17% |
| S3 | 21.88 | -2.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.22 | 3.61% |
| R2 | 22.94 | 2.37% |
| R1 | 22.63 | 0.98% |
| Price | 22.41 | |
| S1 | 22.25 | -0.714% |
| S2 | 21.65 | -3.39% |
| S3 | 21.59 | -3.66% |
CHMI-PA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.513 | 2.29% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.513 | 2.25% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.513 | 2.25% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.513 | 2.63% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.513 | 2.47% |
FAQ
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