Canadian Imperial Bank of Commerce Stock Forecast
Canadian Imperial Bank of Commerce stock price down 0.168% on Monday
(Updated on Apr 22, 2024)
The Canadian Imperial Bank of Commerce stock price fell by -0.168% on the last day (Monday, 22nd Apr 2024) from $65.43 to $65.32. During the last trading day the stock fluctuated 1.01% from a day low at $65.07 to a day high of $65.73. The price has fallen in 7 of the last 10 days and is down by -4.12% for this period. Volume has increased on the last day by 249 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately $327.92 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $65.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.38% during the next 3 months and, with a 90% probability hold a price between $73.24 and $79.43 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CM.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Canadian Imperial Bank of Commerce 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 $65.34 and $66.97. 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 -4.88%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Canadian Imperial Bank of Commerce stock
Canadian Imperial Bank of Commerce finds support from accumulated volume at $65.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.660 (1.01%) between high and low. For the last week, the stock has had daily average volatility of 1.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CM.TO) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Canadian Imperial Bank of Commerce to open at $65.37, and during the day (based on 14 day Average True Range), to move between $64.43 and $66.21, which gives a possible trading interval of +/-$0.89 (+/-1.37%) up or down from last closing price. If Canadian Imperial Bank of Commerce takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $65.02 (0.46%) than the resistance at $66.69 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canadian Imperial Bank of Commerce stock A Buy?
The Canadian Imperial Bank of Commerce stock holds several negative signals and despite the positive trend, we believe Canadian Imperial Bank of Commerce will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.107 Sell Candidate Unchanged
Predicted Opening Price for Canadian Imperial Bank of Commerce of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $65.37 ( 0.0816%) | $65.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.03 | 1.09 % | |
| R2 | 65.78 | 0.706 % | ||
| R1 | 65.63 | 0.468 % | ||
| Current price: | 65.32 | |||
| Support | S1 | 65.12 | -0.304 % | |
| S2 | 64.97 | -0.543 % | ||
| S3 | 64.71 | -0.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.32 | 4.59 % | |
| R2 | 67.46 | 3.28 % | ||
| R1 | 66.69 | 2.10 % | ||
| Current price | 65.32 | |||
| Support | S1 | 65.02 | -0.459% | |
| S2 | 64.94 | -0.582% | ||
| S3 | 64.22 | -1.68% |
CM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Mar 27, 2024 | Apr 29, 2024 | $0.90 | 1.38% |
| 2 | Nov 30, 2023 | Dec 28, 2023 | Jan 29, 2024 | $0.90 | 1.45% |
| 3 | Nov 30, 2023 | Dec 27, 2023 | Jan 29, 2024 | $0.90 | 1.45% |
| 4 | Sep 27, 2023 | Sep 27, 2023 | Oct 27, 2023 | $0.87 | 1.81% |
| 5 | Jun 27, 2023 | Jun 27, 2023 | Jul 28, 2023 | $0.87 | 1.50% |
FAQ
Click here for our free guide on how to buy Canadian Imperial Bank of Commerce Stock.
