Chemed Corp Stock Forecast

Stronger technical forecast for Chemed Corp stock price after Wednesday trading.
(Updated on Apr 17, 2024)

CHE Signals & Forecast

There are few to no technical positive signals at the moment. The Chemed Corp 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 $616.14 and $634.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -7.15%. 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. The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Chemed Corp stock

Chemed Corp finds support from accumulated volume at $592.41 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 $8.91 between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.38%.

Chemed Corp is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $574.69 (-4.88%) (This stock has low daily movements and this gives low risk. Low RSI14 is 6 which reduces the risk some. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (CHE) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Chemed Corp to open at $606.29, and during the day (based on 14 day Average True Range), to move between $595.54 and $612.80, which gives a possible trading interval of +/-$8.63 (+/-1.43%) up or down from last closing price. If Chemed Corp takes out the full calculated possible swing range there will be an estimated 2.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $592.41 (1.95%) than the resistance at $628.84 (4.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Chemed Corp stock A Buy?

Chemed Corp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.191 Hold/Accumulate Upgraded

Predicted Opening Price for Chemed Corp of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.