Chimera Investment Corporation Stock Forecast

Chimera Investment Corporation stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)

CIM-PC Signals & Forecast

The Chimera Investment Corporation 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 $22.31 and $22.10. 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 Friday, May 31, 2024, and so far it has fallen -1.44%. 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. The stock had a Golden Star Signal on Tuesday, April 30, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Chimera Investment Corporation stock

Chimera Investment Corporation finds support from accumulated volume at $21.80 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 therefore the general risk is considered very 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 $0.140 between high and low, or 0.624%. For the last week the stock has had daily average volatility of 1.03%

Our recommended stop-loss: $21.70 (-3.62%) (This stock has low daily movements and this gives low risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 45 days ago.)

Trading Expectations (CIM-PC) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Chimera Investment Corporation to open at $22.50, and during the day (based on 14 day Average True Range), to move between $22.27 and $22.77, which gives a possible trading interval of +/-$0.245 (+/-1.09%) up or down from last closing price. If Chimera Investment Corporation takes out the full calculated possible swing range there will be an estimated 2.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.53 (0.04%) than the support at $21.80 (3.20%), 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 Chimera Investment Corporation stock A Buy?

Chimera Investment Corporation holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.399 Strong Buy Candidate Upgraded

Predicted Opening Price for Chimera Investment Corporation of Wednesday, July 3, 2024

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