CM-PR-P Technical Analysis - CANADIAN IMPERIAL BANK - CM 3.909 PERP

Technical Rating and Analysis

Taking everything into account, CM-PR-P scores 8 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CM-PR-P is showing a nice and steady performance.

Both the short term and long term trends are positive. This is a very positive sign.

Looking at the yearly performance, CM-PR-P did better than 76% of all other stocks.

CM-PR-P is part of the Banks industry. There are 29 other stocks in this industry. CM-PR-P outperforms 89% of them.

CM-PR-P is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month CM-PR-P has a been trading in a tight range between 24.94 and 25.00.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

CANADIAN IMPERIAL BANK - CM 3.909 PERP / CM-PR-P Weekly stock chart

CANADIAN IMPERIAL BANK - CM 3.909 PERP / CM-PR-P Daily stock chart

Setup Rating and Analysis

Although CM-PR-P has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

23.69

25.45

We found 2 important support areas.

A support zone ranging from 24.70 to 24.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 23.93 to 24.23. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 25.02 to 25.20. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for CM-PR-P.CA is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for CM-PR-P.CA is up.
ChartMill Relative Strength	76.96	POSITIVE	CM-PR-P.CA has a high relative strength, it outperformed 76.96% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of CM-PR-P.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of CM-PR-P.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of CM-PR-P.CA is above the rising SMA(200).
Relative Strength Index/RSI (14)	59.09	NEUTRAL	The RSI value for CM-PR-P.CA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.01	NEGATIVE	The MACD value suggests CM-PR-P.CA has a negative trend, although the MACD value is rising.
Stochastics (14,3)	86.67	OVERBOUGHT	The high Stochastics value suggests CM-PR-P.CA may be overbought.
Average True Range in percent/ATR (20)	0.04	LOW VOLATILITY	The low ATR as a percentage value for CM-PR-P.CA suggests low volalility.
Average Directional Index/ADX (14)	35.81	POSITIVE	The high ADX value value for CM-PR-P.CA suggests a strong trend.