CM Price Prediction Next Week
Technical Analysis: Based on the technical indicators, CM is showing mixed signals. The RSI(14) at 51.92 indicates a neutral momentum, while the MACD at -0.25 suggests a slightly bearish trend. The stock is trading above its 200-day SMA of $55.64 but near its 20-day SMA of $63.01, indicating a short-term consolidation phase.
News Impact: Recent news about potential U.S. tariffs on Canadian imports starting February 1st could significantly impact CM's stock price. Prime Minister Trudeau's warning of robust retaliation measures could create market uncertainty and volatility in Canadian banking stocks.
Fibonacci Analysis: Current price levels show key resistance at $64.15 (R1) and $64.93 (R2), with support at $61.63 (S1) and $60.85 (S2). The Fibonacci pivot point at $62.89 serves as a crucial level to watch.
Price Prediction for Next Week: Based on technical analysis and news sentiment:
- Bearish Scenario (60% probability): Price could test S1 at $61.63 due to tariff concerns
- Neutral Scenario (30% probability): Trading range between $62.89-$64.15
- Bullish Scenario (10% probability): Limited upside potential due to trade tensions
Target Price: $61.80
Recommendation: SELL Rationale: The combination of negative MACD, potential trade tensions, and proximity to resistance levels suggests downward pressure in the short term. Consider selling at current levels ($63.60) with a stop loss at $64.93 (R2).
CM Similar Chart Price Prediction
The price of CM is predicted to go up 4.32%, based on the high correlation periods with OLN. The similarity of these two price pattern on the periods is 97.13%.
CM
OLN
Up: 4.32%Similarity: 97.13%
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CM VS S&P500
CIBC has significantly improved multiple measures of core banking performance, such as customer perception surveys, promoter scores, and products per a customer. The bank is now operating at a higher level.
CIBC is more Canada-focused than most of its peers. Its consolidated returns on tangible equity remain some of the highest in the industry.
The government has kept the Canadian market attractive by placing barriers to entry, protecting high returns, and the government will continue to attempt to keep the housing market under control, limiting any future hits to profitability.