CMC Price Prediction Next Week
Technical Analysis
- RSI (14) at 54.04 indicates neutral momentum
- MACD shows bullish divergence with positive histogram (0.52)
- Price trading above all major SMAs (5,10,20,60,200,250) indicates overall uptrend
- Bollinger Band Position at 0.70 suggests room for upside movement
News Impact Goldman Sachs is bullish on steel stocks including CMC due to:
- Trump's 25% steel import tariffs providing price support
- Expected demand improvement in 2025
- Lower interest rates and infrastructure spending boost
- Goldman's price target of $70 implies 38% upside
Price Prediction (Next Week) Based on technical indicators and positive news sentiment:
- Support: $50.54 (Fibonacci pivot)
- Resistance: $52.83 (Fibonacci R1)
- Target: $54.25 (Fibonacci R2)
Trading Recommendation BUY CMC with:
- Entry: Current price ($51.66)
- Target: $54.25
- Stop loss: $50.00
- Risk/Reward ratio: 1:1.8
Rationale:
- Strong fundamental catalysts from tariffs
- Positive technical setup with price above key moving averages
- Bullish MACD crossover signals upward momentum
- Goldman's highly bullish outlook provides institutional support
CMC Similar Chart Price Prediction
The price of CMC is predicted to go up -3.63%, based on the high correlation periods with CCK. The similarity of these two price pattern on the periods is 90.79%.
CMC
CCK
Down: -3.63%Similarity: 90.79%
CMC Revenue Forecast
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CMC Analyst's Forecast
Katja Jancic
BMO Capital
Hold
2025-01-03
Price Target
$62 → $58
Upside
+18.63%
BMO Capital lowered the firm's price target on Commercial Metals to $58 from $61 and keeps a Market Perform rating on the shares ahead of its Q1 results next week. The firm sees core EBITDA in Q1 declining sequentially on margin compression in North America partially offset by carbon credit received in Europe, the analyst tells investors in a research note. BMO adds however that Q2 earnings will represent a near-term trough, improving in the second half of the year.
Timna Tanners
Wolfe Research
Buy → Hold
2024-10-09
Price Target
n/a
Downside
0%
