Community Health Systems Inc Stock Forecast
Green day on Friday for Community Health Systems Inc
(Updated on Apr 26, 2024)
The Community Health Systems Inc stock price gained 4.31% on the last trading day (Friday, 26th Apr 2024), rising from $3.25 to $3.39. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.23% from a day low at $3.31 to a day high of $3.45. The price has risen in 5 of the last 10 days and is up by 13% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $8.41 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.28, a level that may pose a second chance to hit a runner. According to fan-theory $4.46 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CYH Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -5.31%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Community Health Systems Inc 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 $3.02 and $3.08. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Community Health Systems Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.90 and $2.78. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Community Health Systems Inc finds support just below today's level at $2.90. If this is broken, then the next support from accumulated volume will be at $2.78 and $2.64.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.140 between high and low, or 4.23%. For the last week, the stock has had daily average volatility of 6.18%.
Our recommended stop-loss: $3.26 (-3.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (CYH) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Community Health Systems Inc to open at $3.38, and during the day (based on 14 day Average True Range), to move between $3.21 and $3.57, which gives a possible trading interval of +/-$0.179 (+/-5.28%) up or down from last closing price. If Community Health Systems Inc takes out the full calculated possible swing range there will be an estimated 10.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.40 (0.29%) than the support at $2.90 (14.45%), 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 Community Health Systems Inc stock A Buy?
The stock is within a very wide and falling trend and holds several negative signals that may affect the stock in the short-term. However, we believe that today's you should hold a possible buying opportunity and expect the price to be higher at the end of the 3-month period. The careful investor would await further signals.
Current score: 2.278 Buy Candidate Unchanged
Predicted Opening Price for Community Health Systems Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $3.38 ( 0.197%) | $3.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CYH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.52 | 3.93 % | |
| R2 | 3.47 | 2.36 % | ||
| R1 | 3.44 | 1.38 % | ||
| Current price: | 3.39 | |||
| Support | S1 | 3.33 | -1.77 % | |
| S2 | 3.30 | -2.75 % | ||
| S3 | 3.24 | -4.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.83 | 12.98 % | |
| R2 | 3.67 | 8.26 % | ||
| R1 | 3.40 | 0.295 % | ||
| Current price | 3.39 | |||
| Support | S1 | 2.90 | -14.45% | |
| S2 | 2.78 | -17.99% | ||
| S3 | 2.64 | -22.12% |
CYH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 07, 2012 | Dec 13, 2012 | Dec 28, 2012 | $0.207 | 0.690% |
FAQ
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