Chimera Investment Corporation Stock Forecast

Weaker technical forecast for Chimera Investment Corporation as stock downgraded to Buy Candidate.
(Updated on Jun 27, 2024)

CIM-PC Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -1.88%. 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. 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 $22.13 and $22.01. A breakdown below any of these levels will issue sell signals. 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 $0.220 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 1.44%

Our recommended stop-loss: $21.50 (-4.09%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (CIM-PC) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Chimera Investment Corporation to open at $22.35, and during the day (based on 14 day Average True Range), to move between $22.16 and $22.68, which gives a possible trading interval of +/-$0.259 (+/-1.16%) up or down from last closing price. If Chimera Investment Corporation takes out the full calculated possible swing range there will be an estimated 2.31% 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 (0.49%) than the support at $21.80 (2.77%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Chimera Investment Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.901 Buy Candidate Downgraded

Predicted Opening Price for Chimera Investment Corporation of Friday, June 28, 2024

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