CHE Price Prediction Next Week
Analysis and Prediction for CHE Stock
Technical Analysis:
- Current Price: 602.16
- RSI (14): 65.33 (Bullish momentum, not overbought)
- MACD: 11.74 (Bullish crossover with rising MACD line)
- Fibonacci Levels:
- Resistance 1: 599.44
- Resistance 2: 613.94
- Support 1: 552.51
- Support 2: 538.01
- Pivot: 575.98
News and Fundamental Analysis:
- Earnings Report: CHE reported strong Q4 earnings with revenue up 9.2% YoY and EPS of $6.83, beating expectations. However, shares fell 4.4% due to Medicare cap concerns.
- 2025 Forecast: CHE expects EPS between $24.95 and $25.45, with Medicare cap limitations of $9.5 million.
- Segment Performance:
- VITAS Hospice: Revenue up 17.4% to $411 million.
- Roto-Rooter: Revenue declined 2.9%, but management expects improvement.
Price Prediction and Recommendation:
Based on technical indicators and fundamentals, CHE is expected to trade between 605 and 615 next week. The stock is approaching the first Fibonacci resistance level of 599.44, which may act as a short-term barrier. However, the overall bullish momentum and strong earnings suggest upward potential.
Recommendation: Buy on dips near the support levels, with a target price of 610. Monitor resistance at 613.94 for potential profit-taking.
CHE Similar Chart Price Prediction
The price of CHE is predicted to go up 2.16%, based on the high correlation periods with ICCC. The similarity of these two price pattern on the periods is 96.55%.
CHE
ICCC
Up: 2.16%Similarity: 96.55%
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CHE Analyst's Forecast
Ben Hendrix
RBC Capital
Buy
2024-11-05
Price Target
$697 → $633
Upside
+18.46%
RBC Capital lowered the firm's price target on Chemed to $633 from $697 and keeps an Outperform rating on the shares after its Q3 earnings. The company delivered solid results with VITAS strength largely offsetting continued Roto-Rooter headwinds, and the firm was also encouraged to see census momentum continue, bolstered by strong hiring, the analyst tells investors in a research note. RBC adds however that its price target cut reflects a roll in its valuation model to next year's estimates.
