Washington Trust Bancorp Stock Forecast
Weaker technical forecast for Washington Trust Bancorp as stock downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The Washington Trust Bancorp stock price fell by -2.15% on the last day (Thursday, 28th Mar 2024) from $27.47 to $26.88. During the last trading day the stock fluctuated 1.33% from a day low at $26.73 to a day high of $27.09. The price has risen in 6 of the last 10 days and is up by 7.69% over the past 2 weeks. Volume has increased on the last day by 14 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 100 thousand shares were bought and sold for approximately $2.68 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $27.37 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.76% during the next 3 months and, with a 90% probability hold a price between $19.54 and $22.51 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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WASH Signals & Forecast
The Washington Trust Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $26.45 and $26.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 9.58%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Washington Trust Bancorp stock
Washington Trust Bancorp finds support from accumulated volume at $25.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.355 between high and low, or 1.33%. For the last week, the stock has had daily average volatility of 2.70%.
Our recommended stop-loss: $26.10 (-2.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (WASH) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Washington Trust Bancorp to open at $26.90, and during the day (based on 14 day Average True Range), to move between $26.06 and $27.70, which gives a possible trading interval of +/-$0.82 (+/-3.07%) up or down from last closing price. If Washington Trust Bancorp takes out the full calculated possible swing range there will be an estimated 6.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.36 (1.79%) than the support at $25.82 (3.94%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Washington Trust Bancorp stock A Buy?
Washington Trust Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.661 Hold/Accumulate Downgraded
Predicted Opening Price for Washington Trust Bancorp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$26.90 ( 0.0682%) | $26.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WASH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.25 | 1.39 % | |
R2 | 27.12 | 0.88 % | ||
R1 | 27.03 | 0.573 % | ||
Current price: | 26.88 | |||
Support | S1 | 26.76 | -0.436 % | |
S2 | 26.68 | -0.748 % | ||
S3 | 26.54 | -1.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 29.19 | 8.59 % | |
R2 | 27.81 | 3.46 % | ||
R1 | 27.36 | 1.79 % | ||
Current price | 26.88 | |||
Support | S1 | 25.82 | -3.94% | |
S2 | 25.74 | -4.24% | ||
S3 | 25.15 | -6.44% |
WASH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 12, 2024 | $0.560 | 2.08% |
2 | Dec 21, 2023 | Dec 29, 2023 | Jan 12, 2024 | $0.560 | 1.87% |
3 | Sep 21, 2023 | Sep 29, 2023 | Oct 12, 2023 | $0.560 | 2.12% |
4 | Jun 15, 2023 | Jun 30, 2023 | Jul 13, 2023 | $0.560 | 2.04% |
5 | Mar 16, 2023 | Mar 31, 2023 | Apr 13, 2023 | $0.560 | 1.68% |
FAQ
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