In the meantime, 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 1.77% to $64.81. Over the last five days, the stock has gained 1.79%. Canadian Imperial Bank Of Commerce shares have risen nearly 2.50% since the year began. Nevertheless, the stocks have risen 31.97% over the past one year. While a 52-week high of $67.45 was reached on 01/28/25, a 52-week low of $46.99 was recorded on 04/09/25. SMA at 50 days reached $58.82, while 200 days put it at $60.36.
Levels Of Support And Resistance For CM Stock
The 24-hour chart illustrates a support level at 64.12, which if violated will result in even more drops to 63.44. On the upside, there is a resistance level at 65.18. A further resistance level may holdings at 65.56. The Relative Strength Index (RSI) on the 14-day chart is 74.23, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.21%. Stochastics %K at 90.31% indicates the stock is a selling.
