Banco De Chile Stock Forecast
Evaluation of Banco De Chile stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Banco De Chile stock price fell by -1.46% on the last day (Wednesday, 24th Apr 2024) from $22.62 to $22.29. During the last trading day the stock fluctuated 1.80% from a day low at $22.27 to a day high of $22.67. The price has fallen in 5 of the last 10 days and is down by -2.24% for this period. Volume has increased on the last day by 34 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, 133 thousand shares were bought and sold for approximately $2.96 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Banco De Chile stock with a 90% probability to be traded between $20.73 and $23.16 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BCH Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.39%. 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. The Banco De Chile stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $22.52. On a fall, the stock will find some support from the short-term average at $22.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Thursday, March 14, 2024 and based on theory for this formation the price should fall by -0.86% to $22.10 within 17 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Banco De Chile stock
Banco De Chile finds support from accumulated volume at $22.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.400 (1.80%) between high and low. For the last week, the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCH) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Banco De Chile to open at $22.41, and during the day (based on 14 day Average True Range), to move between $21.81 and $22.77, which gives a possible trading interval of +/-$0.478 (+/-2.15%) up or down from last closing price. If Banco De Chile takes out the full calculated possible swing range there will be an estimated 4.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.28 (0.04%) than the resistance at $22.80 (2.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Banco De Chile will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.600. We will update the financials statements for Banco De Chile, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.71% in the first trading day after earnings release.
Is Banco De Chile stock A Buy?
Banco De Chile holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.241 Sell Candidate Downgraded
Predicted Opening Price for Banco De Chile of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $22.41 ( 0.523%) | $22.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.81 | 2.32 % | |
| R2 | 22.65 | 1.63 % | ||
| R1 | 22.56 | 1.21 % | ||
| Current price: | 22.29 | |||
| Support | S1 | 22.25 | -0.162 % | |
| S2 | 22.16 | -0.586 % | ||
| S3 | 22.01 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.76 | 6.59 % | |
| R2 | 23.60 | 5.88 % | ||
| R1 | 22.80 | 2.29 % | ||
| Current price | 22.29 | |||
| Support | S1 | 22.28 | -0.0449% | |
| S2 | 22.27 | -0.0897% | ||
| S3 | 21.25 | -4.67% |
BCH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Mar 21, 2024 | Apr 05, 2024 | $1.09 | 4.75% |
| 2 | Feb 27, 2023 | Mar 16, 2023 | Mar 30, 2023 | $2.08 | 10.62% |
| 3 | Feb 03, 2022 | Mar 24, 2022 | Apr 07, 2022 | $1.33 | 6.09% |
| 4 | Mar 24, 2021 | Mar 26, 2021 | Mar 26, 2021 | $0.607 | 2.64% |
| 5 | Mar 06, 2019 | Mar 21, 2019 | Apr 04, 2019 | $1.06 | 3.54% |
FAQ
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