Alert: Positive Investment/Fundamental Signals (12/20/23)-Chemung Financial Corp (NASDAQ: CHMG)


Extremely important positive changes in investment behavior have recently occurred for Chemung Financial Corp (NASDAQ: CHMG): positive upside/downside volume developed, its longer term price trend turned up, and the stock rose on very heavy volume.

Chemung Financial Corp (NASDAQ: CHMG). Slight positive changes in fundamentals have recently occurred: the stock’s power rating rose above 70.

In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

CHMG’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.

Chemung Financial has a current Value Trend Rating of B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Chemung Financial has a neutral Appreciation Score of 57 but a good Power Rating of 78, triggering the Positive Value Trend Rating.

Recent Price Action

On 12/20/23, Chemung Financial Corp (NASDAQ: CHMG) stock increased 1.7%, closing at $49.90. Moreover, exceptionally high trading volume at 246% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 5.6% during the last week.

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