CNA Price Prediction Next Week
Based on the provided data and technical analysis, here is the prediction for CNA's stock price for the next trading week:
Technical Analysis:
The technical indicators show:
- RSI at 52.27 indicates neutral momentum
- MACD at 0.25 suggests a slightly bullish trend
- Price is trading above both 20-day SMA (48.59) and 200-day SMA (47.30), indicating an overall upward trend
News Sentiment Analysis: Recent news shows positive momentum:
- CNA Financial saw significant pre-market gains of 5.4%
- The stock has been trading between a 52-week range of $41.64 to $52.36, with current price at $51.47
Price Prediction for Next Week: Based on Fibonacci levels analysis:
- Resistance levels: R1 at $50.10, R2 at $50.66, R3 at $51.56
- Support levels: S1 at $48.31, S2 at $47.75, S3 at $46.86
- Pivot point: $49.21
Price Target and Recommendation: Given the current price of $51.47 and technical indicators showing:
- Price is trading above key moving averages
- Positive pre-market momentum
- RSI in neutral territory with room to move higher
The stock is likely to consolidate between $50.10 (R1) and $51.56 (R3) next week. However, since the current price is already near R3, suggesting SELL at current levels with the following targets:
- First target: $50.10 (R1)
- Second target: $49.21 (Pivot)
- Stop loss: $52.00 (above recent high)
CNA Similar Chart Price Prediction
The price of CNA is predicted to go up -1.73%, based on the high correlation periods with AVGO. The similarity of these two price pattern on the periods is 92.69%.
CNA
AVGO
Down: -1.73%Similarity: 92.69%
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CNA Analyst's Forecast
Joshua Shanker
B of A Securities
Sell
2024-10-10
Price Target
$45 → $48
Downside
-1.09%
BofA raised the firm's price target on CNA Financial to $48 from $45 and keeps an Underperform rating on the shares. While Q3 was an active quarter for global catastrophe events, the firm expects Q3 catastrophe losses to be "manageable" for property and casualty insurers, the analyst tells investors in a preview for the U.S. insurance group. The firm has included "placeholder" losses for Hurricane Milton in models for Q4, while acknowledging uncertainty remains with the storm just making landfall. Target changes in the group reflect events occurring during the quarter and various P/E multiple changes, the analyst noted.
