CIM Commercial Trust Corporation Stock Forecast
Red day on Friday for CIM Commercial Trust Corporation stock after losing 1.76%
(Updated on May 03, 2024)
The CIM Commercial Trust Corporation stock price fell by -1.76% on the last day (Friday, 3rd May 2024) from $3.13 to $3.07. During the last trading day the stock fluctuated 2.61% from a day low at $3.07 to a day high of $3.15. The price has fallen in 6 of the last 10 days and is down by -9.44% 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 -7 thousand shares and in total, 4 thousand shares were bought and sold for approximately $10.84 thousand.
The stock has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $3.23 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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CMCT Signals & Forecast
There are few to no technical positive signals at the moment. The CIM Commercial Trust Corporation 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 $3.25 and $3.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -27.93%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CIM Commercial Trust Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 4.34%.
CIM Commercial Trust Corporation is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CMCT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect CIM Commercial Trust Corporation to open at $3.10, and during the day (based on 14 day Average True Range), to move between $2.90 and $3.24, which gives a possible trading interval of +/-$0.170 (+/-5.55%) up or down from last closing price. If CIM Commercial Trust Corporation takes out the full calculated possible swing range there will be an estimated 11.11% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.35, some $0.280 (9.12%) from the current price of $3.07, our system finds the risk reward not very attractive.
Earnings coming up
CIM Commercial Trust Corporation will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.190. We will update the financials statements for CIM Commercial Trust Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.61% in the first trading day after earnings release.
Is CIM Commercial Trust Corporation stock A Buy?
CIM Commercial Trust Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.424 Sell Candidate Unchanged
Predicted Opening Price for CIM Commercial Trust Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $3.10 ( 0.87%) | $3.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMCT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.18 | 3.47 % | |
| R2 | 3.15 | 2.48 % | ||
| R1 | 3.13 | 1.86 % | ||
| Current price: | 3.07 | |||
| Support | S1 | 3.07 | -0.127 % | |
| S2 | 3.05 | -0.742 % | ||
| S3 | 3.02 | -1.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.60 | 17.26 % | |
| R2 | 3.56 | 15.80 % | ||
| R1 | 3.35 | 9.12 % | ||
| Current price | 3.07 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CMCT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | Apr 22, 2024 | $0.0850 | 2.54% |
| 2 | Dec 20, 2023 | Dec 29, 2023 | Jan 16, 2024 | $0.0850 | 2.30% |
| 3 | Sep 27, 2023 | Oct 05, 2023 | Oct 23, 2023 | $0.0900 | 2.20% |
| 4 | Jun 27, 2023 | Jul 07, 2023 | Jul 24, 2023 | $0.0850 | 1.74% |
| 5 | Mar 20, 2023 | Mar 29, 2023 | Apr 11, 2023 | $0.0850 | 2.00% |
FAQ
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