German American Bancorp Stock Forecast
German American Bancorp stock price ended at $33.22 on Tuesday, after gaining 0.0301%.
(Updated on Apr 23, 2024)
The German American Bancorp stock price gained 0.0301% on the last trading day (Tuesday, 23rd Apr 2024), rising from $33.21 to $33.22. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.95% from a day low at $33.07 to a day high of $34.05. The price has risen in 6 of the last 10 days but is still down by -1.57% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 82 thousand more shares were traded than the day before. In total, 129 thousand shares were bought and sold for approximately $4.30 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 German American Bancorp stock with a 90% probability to be traded between $31.81 and $35.24 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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GABC Signals & Forecast
The German American Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $32.31 and $32.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.96%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for German American Bancorp stock
German American Bancorp finds support from accumulated volume at $33.00 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 $0.98 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: $31.86 (-4.09%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (GABC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect German American Bancorp to open at $33.45, and during the day (based on 14 day Average True Range), to move between $32.38 and $34.06, which gives a possible trading interval of +/-$0.84 (+/-2.52%) up or down from last closing price. If German American Bancorp takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.27 (0.15%) than the support at $33.00 (0.66%), 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 German American Bancorp stock A Buy?
German American 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.
Current score: 0.837 Hold/Accumulate Unchanged
Predicted Opening Price for German American Bancorp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $33.45 ( 0.677%) | $33.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GABC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.42 | 3.61 % | |
| R2 | 34.05 | 2.49 % | ||
| R1 | 33.82 | 1.80 % | ||
| Current price: | 33.22 | |||
| Support | S1 | 33.07 | -0.444 % | |
| S2 | 32.84 | -1.14 % | ||
| S3 | 32.47 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.64 | 4.27 % | |
| R2 | 33.50 | 0.84 % | ||
| R1 | 33.27 | 0.151 % | ||
| Current price | 33.22 | |||
| Support | S1 | 33.00 | -0.662% | |
| S2 | 32.49 | -2.20% | ||
| S3 | 32.00 | -3.67% |
GABC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 08, 2024 | Feb 20, 2024 | $0.270 | 0.82% |
| 2 | Oct 30, 2023 | Nov 09, 2023 | Nov 20, 2023 | $0.250 | 0.84% |
| 3 | Jul 31, 2023 | Aug 09, 2023 | Aug 20, 2023 | $0.250 | 0.85% |
| 4 | Apr 24, 2023 | May 09, 2023 | May 20, 2023 | $0.250 | 0.93% |
| 5 | Jan 30, 2023 | Feb 09, 2023 | Feb 20, 2023 | $0.250 | 0.624% |
FAQ
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