Canadian Imperial Bank of Commerce
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CM (USA) - Canadian Imperial Looking Interesting.Canadian Imperial Bank of Commerce has been a quiet and steady achiever lately, putting in a solid performance with a gain of around 50% over the last year. While the tech giants grab the headlines, this Canadian banking heavyweight has been trending steadily higher. It’s one of the "Big Five" banks in Canada, meaning it’s generally seen as a stable, dividend-paying bedrock for many portfolios. When a stock like this trends this consistently, I like to pay attention.
Fundamentally, the move
Canadian Imperial Bank | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set Up
3. Break & Retest Set Up
Notes On Session
# Canadian Imperial Bank
- Double Formation
* (Short Cut Attitude)) - *Long Entry - *100EMA | Subdivision 1
* (Range Allocation)) | No Size Up | Completed Survey
* 165bars, 5020d | Date Range Method - *(Uptrend Argument))
- Triple Formation
* (P1)) / (P2)) & (P3)) | Subdivision 2
* Monthly Time Frame | Trend Settings Condition | Subdivision 3
- (Hypothesis On Entry Bias)) | Regula
A signal so bullish it might make you $CMKey Stats
P/E Ratio: 12.86 (below the sector average of 11.8)
Dividend Yield: 3.89%, with consistent payout history
Next Earnings Date: Feb 27, 2025
Recent Upgrade: Barclays raised target to $98 (Nov 30, 2024)
Revenue Growth: 7% YoY
Top 3 Technical Reasons for Bullish Bias
Breakout Zone Approaching: Price testing $94, a critical resistance from August. Break here unlocks $100+.
Golden Crossover Incoming: The 50-day SMA is edging toward a crossover with the 200-day SMA—cl
Chartvzn Analysis: Canadian Imperial Bank of Commerce (CM)b]Key Stats
Market Cap: CAD 55.6B
P/E Ratio: 12.89 (Moderately undervalued compared to industry averages)
Dividend Yield: 5.91% (Solid for income investors)
Revenue Growth: 2.58% YoY (Recent FY revenue: CAD 21.31B)
Next Earnings Date: December 7, 2024
Technical Reasons for Upside
Bullish Hammer Formation: Recent price action carved out a hammer candlestick on November 20, signaling strong buyer support at lower levels.
Ascending Channel Support: The stock is hugging the bottom of a long
High Probability Short Trade on CM with 1:5 Risk to Reward RatioHuge liquidity available above ATH 84. Price may sweep the liquidity above and reverse down and fill the fair value gaps. Strict stop loss should be executed if the 30 minute candle closes above 86. Target 1 - 78.5. Target 2- 73.
I would even suggest buying a DEC 20 CM 80PUT @ maximum of 1.4
PS. Use pyramiding for best result
LT Support Area / 200-500 Channel DailyA bunch of support here and stochastics look good on all timeframes presently. A move above 43.50 puts it into a 200-500 moving channel. Next resistance is the 44 figure. 47.50 first target and then 49.40-51.50. Stop would be daily close below 41.70 so RR is reasonable. Volume is currently light which is not fatal but also not ideal. With bank earnings now coming that may change.
Pattern of the Year?I actually really like this chart. It literally has a simple pattern, buy the bottom envelope (green arrows) and sell the top envelope (red arrows). The biggest thing that sticks out to me is the volume (pink arrows). Before every bounce to the upside, there is always a HUGE volume spike. Will we see another move up following this same pattern?
CM - Double BottomsA large Up channel
Price right now is looking to push to the limit and hit the top of the up channel
Once this is hit price may be rejected and pushed back down to the bottom or out of the up channel
This will also be observed as a double bottom pattern , comparable to one seen earlier in prices evolution
Short term bullish
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CANADIAN IMPERIAL BANK OF COMMEERCE Strategy Hello traders, CANADIAN IMPERIAL BANK OF COMMEERCE is in a bullish configartion with a hammer candle and high volume buy executed. On the TIMEFRAME M1 we see a dragon doji with a strong continuation of the volume of purchases made, it goes towards the top of the stabilization zone to retest it. Strong potential to breakout the price with the momentum of both the zone to join the second and land on the next high.
With a bearish breaking gap to fill (seen from TIMEFRAME H4), to access the next hi
$CM with a bullish outlook following earningsThe PEAD projected a bullish outlook following a positive under reaction for $CM placing the stock in Drift A
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