Eastern Bankshares Inc. Stock Forecast
Stronger technical forecast for Eastern Bankshares Inc. stock price after Thursday trading.
(Updated on Apr 18, 2024)
The Eastern Bankshares Inc. stock price gained 1.55% on the last trading day (Thursday, 18th Apr 2024), rising from $12.24 to $12.43. During the last trading day the stock fluctuated 2.29% from a day low at $12.23 to a day high of $12.51. The price has fallen in 6 of the last 10 days and is down by -5.26% for this period. Volume fell on the last day by -277 thousand shares and in total, 819 thousand shares were bought and sold for approximately $10.19 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $12.22 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.74% during the next 3 months and, with a 90% probability hold a price between $11.15 and $12.42 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EBC Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.55%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eastern Bankshares Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $12.51 and $13.07. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Eastern Bankshares Inc. stock
Eastern Bankshares Inc. finds support from accumulated volume at $12.39 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 $0.280 between high and low, or 2.29%. For the last week, the stock has had daily average volatility of 2.22%.
Eastern Bankshares Inc. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $11.76 (-5.43%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (EBC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Eastern Bankshares Inc. to open at $12.39, and during the day (based on 14 day Average True Range), to move between $12.07 and $12.79, which gives a possible trading interval of +/-$0.365 (+/-2.93%) up or down from last closing price. If Eastern Bankshares Inc. takes out the full calculated possible swing range there will be an estimated 5.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.39 (0.32%) than the resistance at $13.24 (6.52%), 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
Eastern Bankshares Inc. will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.200. We will update the financials statements for Eastern Bankshares Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.93% in the first trading day after earnings release.
Is Eastern Bankshares Inc. stock A Buy?
Eastern Bankshares Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.438 Hold/Accumulate Upgraded
Predicted Opening Price for Eastern Bankshares Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $12.39 ( 0.322%) | $12.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.67 | 1.93 % | |
| R2 | 12.56 | 1.07 % | ||
| R1 | 12.50 | 0.539 % | ||
| Current price: | 12.43 | |||
| Support | S1 | 12.28 | -1.18 % | |
| S2 | 12.22 | -1.71 % | ||
| S3 | 12.11 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.43 | 8.05 % | |
| R2 | 13.38 | 7.64 % | ||
| R1 | 13.24 | 6.52 % | ||
| Current price | 12.43 | |||
| Support | S1 | 12.39 | -0.322% | |
| S2 | 12.24 | -1.53% | ||
| S3 | 0 | . |
EBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.110 | 0.83% |
| 2 | Oct 26, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.110 | 0.759% |
| 3 | Jul 27, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.100 | 0.729% |
| 4 | Apr 27, 2023 | Jun 01, 2023 | Jun 15, 2023 | $0.100 | 0.766% |
| 5 | Jan 26, 2023 | Mar 02, 2023 | Mar 15, 2023 | $0.100 | 0.81% |
FAQ
Click here for our free guide on how to buy Eastern Bankshares Inc. Stock.
