Comerica Incorporated Stock Forecast
Comerica Incorporated stock upgraded to Buy Candidate.
(Updated on May 01, 2024)
The Comerica Incorporated stock price gained 2.07% on the last trading day (Wednesday, 1st May 2024), rising from $50.17 to $51.21. During the last trading day the stock fluctuated 4.49% from a day low at $50.19 to a day high of $52.44. The price has risen in 6 of the last 10 days and is up by 2.79% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 221 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $88.60 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $50.17 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 3.98% during the next 3 months and, with a 90% probability hold a price between $52.16 and $58.01 at the end of this 3-month period.
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CMA Signals & Forecast
The Comerica Incorporated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $51.80 and $51.92. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.79%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Comerica Incorporated stock
Comerica Incorporated finds support from accumulated volume at $51.20 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 $2.26 (4.49%) between high and low. For the last week, the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: $48.39 (-5.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (CMA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Comerica Incorporated to open at $51.28, and during the day (based on 14 day Average True Range), to move between $49.66 and $52.76, which gives a possible trading interval of +/-$1.55 (+/-3.02%) up or down from last closing price. If Comerica Incorporated takes out the full calculated possible swing range there will be an estimated 6.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $51.20 (0.02%) than the resistance at $51.39 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Comerica Incorporated stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.312 Buy Candidate Upgraded
Predicted Opening Price for Comerica Incorporated of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $51.28 ( 0.133%) | $51.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.53 | 4.54 % | |
| R2 | 52.67 | 2.85 % | ||
| R1 | 52.14 | 1.82 % | ||
| Current price: | 51.21 | |||
| Support | S1 | 50.42 | -1.55 % | |
| S2 | 49.88 | -2.59 % | ||
| S3 | 49.02 | -4.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.61 | 2.73 % | |
| R2 | 52.07 | 1.68 % | ||
| R1 | 51.39 | 0.351 % | ||
| Current price | 51.21 | |||
| Support | S1 | 51.20 | -0.0195% | |
| S2 | 50.66 | -1.07% | ||
| S3 | 49.59 | -3.16% |
CMA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.710 | 1.39% |
| 2 | Feb 27, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.710 | 1.31% |
| 3 | Feb 27, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.710 | 1.31% |
| 4 | Nov 07, 2023 | Dec 14, 2023 | Jan 01, 2024 | $0.710 | 1.27% |
| 5 | Jul 25, 2023 | Sep 14, 2023 | Oct 01, 2023 | $0.710 | 1.71% |
FAQ
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