Canadian Imperial Bank of Commerce (CM) just hit an all-time high and has strong technical momentum.
The stock maintains a 100% “Buy” Barchart opinion.
Shares are up 32.01% over the past year and more than 34% in the year to date.
Despite some valuation concerns, most analysts rate CM as a “Strong Buy,” citing growth, profitability, and momentum.
Valued at $78.69 billion, Canadian Imperial Bank of Commerce (CM) is a leading North American financial institution that offers a full range of products and services through its comprehensive electronic banking network, branches, and offices across Canada, the U.S., and the rest of the world.
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. CM checks those boxes. Since the Trend Seeker signaled a new “Buy” on Aug. 13, the stock has gained 15.9%.
www.barchart.com
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Canadian Imperial hit an all-time high of $85.46 in morning trading on Nov. 10.
CM has a Weighted Alpha of +40.77.
Canadian Imperial has a 100% “Buy” opinion from Barchart.
The stock gained 32.01% over the past year.
CM has its Trend Seeker “Buy” signal intact.
The stock recently traded at $84.96 with a 50-day moving average of $80.95.
Canadian Imperial has made 9 new highs and gained 6.4% in the last month.
Relative Strength Index (RSI) is at 69.11.
There’s a technical support level around $83.67.
$78.69 billion…
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