Combined Motor Holdings Limited Stock Forecast
Combined Motor Holdings Limited stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Combined Motor Holdings Limited stock price gained 3.62% on the last trading day (Friday, 14th Jun 2024), rising from $2,625.00 to $2,720.00. During the last trading day the stock fluctuated 9.73% from a day low at $2,550.00 to a day high of $2,798.00. The price has fallen in 6 of the last 10 days and is down by -3.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately $81.79 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 8.00% during the next 3 months and, with a 90% probability hold a price between $2,839.00 and $3,135.73 at the end of this 3-month period.
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CMH.JO Signals & Forecast
The Combined Motor Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $2,708.14 and $2,708.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 3.62%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Monday, April 15, 2024 and based on theory for this formation the price should go up by 5.85% to $2,879.00 within 6 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Combined Motor Holdings Limited stock
Combined Motor Holdings Limited finds support from accumulated volume at $2,700.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $248.00 between high and low, or 9.73%. For the last week the stock has had daily average volatility of 5.73%.
Our recommended stop-loss: $2,577.03 (-5.26%) (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 (CMH.JO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Combined Motor Holdings Limited to open at $2,689.33, and during the day (based on 14 day Average True Range), to move between $2,596.51 and $2,843.49, which gives a possible trading interval of +/-$123.49 (+/-4.54%) up or down from last closing price. If Combined Motor Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2,724.00 (0.15%) than the support at $2,700.00 (0.74%), 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 Combined Motor Holdings Limited 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 Combined Motor Holdings Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.834 Buy Candidate Upgraded
Predicted Opening Price for Combined Motor Holdings Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $2,689.33 ( 1.13%) | $2,720.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMH.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,937.33 | 7.99% |
| R2 | 2,842.60 | 4.51% |
| R1 | 2,784.07 | 2.36% |
| Price | 2,720.00 | |
| S1 | 2,594.60 | -4.61% |
| S2 | 2,536.07 | -6.76% |
| S3 | 2,441.33 | -10.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,790.00 | 2.57% |
| R2 | 2,750.00 | 1.10% |
| R1 | 2,724.00 | 0.147% |
| Price | 2,720.00 | |
| S1 | 2,700.00 | -0.735% |
| S2 | 2,630.00 | -3.31% |
| S3 | 2,500.00 | -8.09% |
CMH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jun 18, 2024 | $220.00 | 8.22% |
| 2 | Dec 13, 2023 | Dec 13, 2023 | Dec 13, 2023 | $146.00 | 5.37% |
| 3 | Dec 12, 2023 | Dec 12, 2023 | Dec 18, 2023 | $146.00 | 5.39% |
| 4 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | $240.00 | 8.65% |
| 5 | Dec 13, 2022 | Dec 13, 2022 | Dec 13, 2022 | $168.00 | 6.20% |
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