Home BancShares Stock Forecast
Home BancShares stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Home BancShares stock price fell by -1.13% on the last day (Thursday, 25th Apr 2024) from $24.80 to $24.52. During the last trading day the stock fluctuated 1.52% from a day low at $24.29 to a day high of $24.66. The price has risen in 6 of the last 10 days and is up by 5.6% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -154 thousand shares and in total, 542 thousand shares were bought and sold for approximately $13.29 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $24.80 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Home BancShares stock with a 90% probability to be traded between $22.53 and $24.93 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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HOMB Signals & Forecast
The Home BancShares 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 $24.00 and $23.68. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.13%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Home BancShares stock
Home BancShares finds support from accumulated volume at $24.06 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 $0.370 between high and low, or 1.52%. For the last week, the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: $23.47 (-4.29%) (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 (HOMB) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Home BancShares to open at $24.49, and during the day (based on 14 day Average True Range), to move between $23.95 and $25.09, which gives a possible trading interval of +/-$0.574 (+/-2.34%) up or down from last closing price. If Home BancShares takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.54 (0.08%) than the support at $24.06 (1.88%), 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 Home BancShares stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Home BancShares stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.474 Buy Candidate Upgraded
Predicted Opening Price for Home BancShares of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $24.49 ( 0.122%) | $24.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HOMB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.86 | 1.39 % | |
| R2 | 24.72 | 0.81 % | ||
| R1 | 24.63 | 0.454 % | ||
| Current price: | 24.52 | |||
| Support | S1 | 24.35 | -0.699 % | |
| S2 | 24.26 | -1.05 % | ||
| S3 | 24.12 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.69 | 0.693 % | |
| R2 | 24.57 | 0.204 % | ||
| R1 | 24.54 | 0.0816 % | ||
| Current price | 24.52 | |||
| Support | S1 | 24.06 | -1.88% | |
| S2 | 23.39 | -4.61% | ||
| S3 | 23.22 | -5.30% |
HOMB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 13, 2024 | Mar 06, 2024 | $0.180 | 0.752% |
| 2 | Oct 25, 2023 | Nov 14, 2023 | Dec 06, 2023 | $0.180 | 0.775% |
| 3 | Jul 26, 2023 | Aug 15, 2023 | Sep 06, 2023 | $0.180 | 0.82% |
| 4 | Apr 26, 2023 | May 16, 2023 | Jun 07, 2023 | $0.180 | 0.752% |
| 5 | Jan 25, 2023 | Feb 14, 2023 | Mar 08, 2023 | $0.180 | 0.779% |
FAQ
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