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-term bullish channel, offering an attractive risk-reward entry.
Oversold RSI Recovery: Daily RSI bounced from oversold levels (38), aligning with potential upward momentum.
Fundamental Reasons for Upside
Strong Dividend Play: A consistent 5.91% yield positions CM as a defensive pick amid market volatility, attracting income investors.
Positive Analyst Sentiment: Recent upgrades, with price targets ranging from CAD 94 to CAD 97, signal optimism in CM’s performance.
Improved Loan Portfolio Risk: Management’s risk transfer initiatives are reducing exposure to corporate defaults.
Potential Paths to Profit
Low Risk: Accumulate shares below CAD 93. Enjoy the dividends and hold until the target is hit.
Options Play: Buy Dec 20, 2024 CAD 94 calls (~CAD 2.10 premium). Attractive theta decay under low volatility.
Pair Trade: Hedge with short positions in a weaker Canadian bank like Laurentian (LB).
Disclaimer: We are not a brokerage or investment firm. We do not offer financial advice or investment advice and/or signals. This is not certified financial education. We offer access to the daily thought process of an individual and his experiences. We do not offer refunds. All sales are final.
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-term bullish channel, offering an attractive risk-reward entry.
Oversold RSI Recovery: Daily RSI bounced from oversold levels (38), aligning with potential upward momentum.
Fundamental Reasons for Upside
Strong Dividend Play: A consistent 5.91% yield positions CM as a defensive pick amid market volatility, attracting income investors.
Positive Analyst Sentiment: Recent upgrades, with price targets ranging from CAD 94 to CAD 97, signal optimism in CM’s performance.
Improved Loan Portfolio Risk: Management’s risk transfer initiatives are reducing exposure to corporate defaults.
Potential Paths to Profit
Low Risk: Accumulate shares below CAD 93. Enjoy the dividends and hold until the target is hit.
Options Play: Buy Dec 20, 2024 CAD 94 calls (~CAD 2.10 premium). Attractive theta decay under low volatility.
Pair Trade: Hedge with short positions in a weaker Canadian bank like Laurentian (LB).
Disclaimer: We are not a brokerage or investment firm. We do not offer financial advice or investment advice and/or signals. This is not certified financial education. We offer access to the daily thought process of an individual and his experiences. We do not offer refunds. All sales are final.
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