Bar Harbor Bankshares Stock Forecast
Bar Harbor Bankshares stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Bar Harbor Bankshares stock price fell by -0.466% on the last day (Thursday, 25th Apr 2024) from $25.75 to $25.63. During the last trading day the stock fluctuated 2.30% from a day low at $25.08 to a day high of $25.66. The price has fallen in 5 of the last 10 days but is still up by 5.43% over the past 2 weeks. Volume has increased on the last day by 2 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, 39 thousand shares were bought and sold for approximately $1.01 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 $26.11 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 -4.41% during the next 3 months and, with a 90% probability hold a price between $22.41 and $24.96 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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BHB Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.466%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bar Harbor Bankshares gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Bar Harbor Bankshares 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 $25.03 and $25.02. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Bar Harbor Bankshares stock
Bar Harbor Bankshares finds support from accumulated volume at $25.48 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 $0.576 between high and low, or 2.30%. For the last week, the stock has had daily average volatility of 4.15%.
Our recommended stop-loss: $24.84 (-3.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BHB) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Bar Harbor Bankshares to open at $25.46, and during the day (based on 14 day Average True Range), to move between $24.81 and $26.45, which gives a possible trading interval of +/-$0.82 (+/-3.18%) up or down from last closing price. If Bar Harbor Bankshares takes out the full calculated possible swing range there will be an estimated 6.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.48 (0.59%) than the resistance at $25.92 (1.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bar Harbor Bankshares stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.568 Buy Candidate Upgraded
Predicted Opening Price for Bar Harbor Bankshares of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $25.46 ( 0.682%) | $25.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.03 | 1.56 % | |
| R2 | 25.81 | 0.706 % | ||
| R1 | 25.68 | 0.176 % | ||
| Current price: | 25.63 | |||
| Support | S1 | 25.24 | -1.54 % | |
| S2 | 25.10 | -2.07 % | ||
| S3 | 24.88 | -2.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.31 | 2.65 % | |
| R2 | 26.30 | 2.61 % | ||
| R1 | 25.92 | 1.13 % | ||
| Current price | 25.63 | |||
| Support | S1 | 25.48 | -0.585% | |
| S2 | 24.79 | -3.28% | ||
| S3 | 24.62 | -3.94% |
BHB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | May 15, 2024 | Jun 14, 2024 | $0.300 | 1.17% |
| 2 | Jan 16, 2024 | Feb 14, 2024 | Mar 15, 2024 | $0.280 | 1.13% |
| 3 | Oct 17, 2023 | Nov 15, 2023 | Dec 15, 2023 | $0.280 | 0.94% |
| 4 | Jul 20, 2023 | Aug 15, 2023 | Sep 15, 2023 | $0.280 | 1.12% |
| 5 | Apr 20, 2023 | May 15, 2023 | Sep 15, 2023 | $0.280 | 1.12% |
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