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Canadian Imperial Bank of Commerce Crosses Above its 10-day MA (CM)

By Nick Russo

Today, shares of Canadian Imperial Bank of Commerce (NYSE:CM) have advanced above their 10-day MA of $78.25 on a volume of 230K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Canadian Imperial Bank of Commerce have traded between a low of $56.29 and a high of $92.22 and are now at $79.38, which is 41% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Canadian Imperial Bank of Commerce on March 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $86.45. Since that call, shares of Canadian Imperial Bank of Commerce have fallen 9.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses canadian imperial bank of commerce

Ticker(s): CM