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CHFC - Chemical Financial Corporation Tue 24'th Jan 2017

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Buy Candidate

Score: 3.64

#1797 of 5186
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 88.46%
Risk: Medium
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Stock analysis for Tue 24'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-24

Chemical Financial Corporation Stock Analysis


Chemical Financial Corporation gained 2.23% in the last trading day, rising from USD 49.85 to USD 50.96. The price has risen in 6 of the last 10 days days, but is still down by -1.55% for this period. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 94 136 more shares were traded than the day before. In total, 327 548 shares bought and sold for approximately USD 16.69 million.

Trend

Chemical Financial Corporation lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 49.69 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.6% during the next 3 months and, with 90% probability hold a price between USD 58.91 and USD 71.02 at the end of this period.

Signals

A buy signal was issued from a pivot bottom point on Thursday January 19, 2017, which indicates further gains 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. Chemical Financial Corporation holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 53.07. On a fall, the stock will find some support from the short-term average at USD 50.46. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.

Relative Strength Index (RSI)

RSI14 is 39 and the stock is currently not being overbought or oversold

Support & Resistance

Chemical Financial Corporation finds support from accumulated volume at USD 49.40, USD 48.46, and USD 42.95. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 52.49, USD 52.83 and USD 53.12.

The stock is about to test the resistance from accumulated volume at USD 52.49 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 1.24 (2.48%) between high and low. For the last week, the stock has had a daily average volatility of 3.10%.

Our recommended stoploss: USD 48.57 (-4.69%) ( criteria: risk and closeness to support from trendline.)

Evaluation

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 this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.

Buy Candidate


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