While this happened, Jefferies downgraded its Canadian Imperial Bank Of Commerce [CM] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who increased its forecast for the stock in early January from “a Sector perform” to “an Outperform”. BofA Securities also remained covering CM and has increased its forecast on August 30, 2024 with a “Buy” recommendation from previously “Neutral” rating. UBS started covering the stock on July 02, 2024. It rated CM as “a Neutral”.
Price Performance Review of CM
On Tuesday, Canadian Imperial Bank Of Commerce [NYSE:CM] saw its stock jump 0.97% to $62.51. Over the last five days, the stock has gained 4.53%. Canadian Imperial Bank Of Commerce shares have fallen nearly -1.14% since the year began. Nevertheless, the stocks have risen 31.88% over the past one year. While a 52-week high of $67.45 was reached on 01/28/25, a 52-week low of $46.50 was recorded on 04/09/25. SMA at 50 days reached $58.25, while 200 days put it at $59.68.
Levels Of Support And Resistance For CM Stock
The 24-hour chart illustrates a support level at 61.95, which if violated will result in even more drops to 61.39. On the upside, there is a resistance level at 62.81. A further resistance level may holdings at 63.12. The Relative Strength Index (RSI) on the 14-day chart is 69.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.60, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.50%. Stochastics %K at 98.54% indicates the stock is a selling.
How much short interest is there in Canadian Imperial Bank Of Commerce?
A steep rise in short interest was recorded in Canadian Imperial Bank Of Commerce stocks on 2025-04-15, growing by 3.12 million shares to a total of 38.49 million shares. Yahoo Finance data shows the prior-month short interest on 2025-03-14 was 35.37 million shares. There was a rise of 8.11%, which implies that there is a positive sentiment for the stock.
