CINF Price Prediction Next Week
Technical Analysis: Cincinnati Financial (CINF) shows bearish signals in short-term technical indicators. RSI-14 at 42.58 indicates a neutral-to-bearish momentum. The MACD line at -1.45 with a positive histogram of 0.15 suggests potential trend reversal, though still in bearish territory.
Price Levels and Support/Resistance:
- Current price: $135.13
- Fibonacci levels indicate:
- Strong resistance: $142.85 (R1)
- Key support: $133.00 (S1)
- Critical support: $129.95 (S2)
Recent Events Impact:
- Cincinnati Financial recently increased its quarterly dividend by 7% to $0.87 per share, demonstrating financial strength
- However, the company warned about material effects on Q1 2025 earnings due to California wildfire losses
- The stock showed weakness in recent trading, declining 4.1% in the financial sector
Price Prediction for Next Week: Based on technical indicators and recent events:
- Bearish scenario (70% probability): Price likely to test S1 at $133.00
- Target price range: $132.00-$134.00
Trading Recommendation: SELL
- Entry point: Current market price ($135.13)
- Stop loss: $137.90 (Fibonacci pivot)
- Take profit: $132.00
Rationale:
- Bearish technical indicators
- Recent sector underperformance
- Expected negative impact from California wildfire claims
- Price trading below key moving averages (SMA 20, 60)
CINF Similar Chart Price Prediction
The price of CINF is predicted to go up 7.59%, based on the high correlation periods with OMCC. The similarity of these two price pattern on the periods is 93.47%.
CINF
OMCC
Up: 7.59%Similarity: 93.47%
CINF Revenue Forecast
CINF EPS Forecast
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CINF Analyst's Forecast
Paul Newsome
Piper Sandler
Hold
2024-10-29
Price Target
$116 → $126
Downside
-11.27%
Piper Sandler analyst Paul Newsome raised the firm's price target on Cincinnati Financial to $126 from $116 and keeps a Neutral rating on the shares following quarterly results. The firm cites a worse than expected result driven by higher-than-expected catastrophe losses. The underlying underwriting results were slightly worse than its expectations, Piper adds.
Grace Carter
B of A Securities
Strong Buy
2024-10-10
Price Target
$149 → $168
Upside
+24.44%
