Red day on Wednesday for Cincinnati Financial Corporation stock after losing 0.47%
(Updated on Dec 08, 2021)

The Cincinnati Financial Corporation stock price fell by -0.47% on the last day (Wednesday, 8th Dec 2021) from $117.76 to $117.21. During the day the stock fluctuated 1.70% from a day low at $116.44 to a day high of $118.42. The price has fallen in 6 of the last 10 days and is down by -3.08% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -30 thousand shares and in total, 452 thousand shares were bought and sold for approximately $52.97 million.

The stock lies in the middle of a wide and 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 2.58% during the next 3 months and, with a 90% probability hold a price between $116.02 and $130.90 at the end of this 3-month period.

Signals & Forecast

There are mixed signals in the stock today. The Cincinnati Financial Corporation stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $120.56. On a fall, the stock will find some support from the short-term average at $115.94. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, December 07, 2021, and so far it has fallen -0.47%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, November 05, 2021 with a target of $118.71. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss

Cincinnati Financial Corporation finds support from accumulated volume at $116.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.98 (1.70%) between high and low. For the last week, the stock has had a daily average volatility of 2.66%.

Our recommended stop-loss: $112.22 (-4.26%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 days ago.)

Is Cincinnati Financial Corporation stock A Buy?

Cincinnati Financial Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.521

Remember To Visit Our YouTube Channel