BanColombia SA Stock Forecast
BanColombia SA stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The BanColombia SA stock price gained 1.18% on the last trading day (Friday, 19th Apr 2024), rising from $32.27 to $32.65. During the last trading day the stock fluctuated 2.05% from a day low at $32.22 to a day high of $32.88. The price has fallen in 8 of the last 10 days and is down by -10.25% for this period. Volume fell on the last day by -152 thousand shares and in total, 224 thousand shares were bought and sold for approximately $7.30 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 part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $32.34 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.13% during the next 3 months and, with a 90% probability hold a price between $36.26 and $42.03 at the end of this 3-month period.
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CIB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.18%. 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 BanColombia SA 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 $33.67 and $34.02. 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 BanColombia SA stock
BanColombia SA finds support from accumulated volume at $32.63 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 $0.660 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 3.01%.
Our recommended stop-loss: $30.93 (-5.27%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (CIB) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect BanColombia SA to open at $32.58, and during the day (based on 14 day Average True Range), to move between $31.75 and $33.55, which gives a possible trading interval of +/-$0.90 (+/-2.76%) up or down from last closing price. If BanColombia SA takes out the full calculated possible swing range there will be an estimated 5.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.63 (0.06%) than the resistance at $34.50 (5.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BanColombia SA stock A Buy?
BanColombia SA 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: -0.409 Hold/Accumulate Upgraded
Predicted Opening Price for BanColombia SA of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $32.58 ( 0.204%) | $32.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CIB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.24 | 1.82 % | |
| R2 | 32.99 | 1.05 % | ||
| R1 | 32.84 | 0.568 % | ||
| Current price: | 32.65 | |||
| Support | S1 | 32.33 | -0.98 % | |
| S2 | 32.18 | -1.45 % | ||
| S3 | 31.92 | -2.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.81 | 9.68 % | |
| R2 | 35.78 | 9.59 % | ||
| R1 | 34.50 | 5.67 % | ||
| Current price | 32.65 | |||
| Support | S1 | 32.63 | -0.0613% | |
| S2 | 32.26 | -1.19% | ||
| S3 | 31.43 | -3.74% |
CIB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 11, 2024 | $0.91 | 2.55% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Jan 12, 2024 | $0.88 | 2.78% |
| 3 | Jul 26, 2023 | Sep 28, 2023 | Oct 12, 2023 | $0.89 | 3.54% |
| 4 | Jun 15, 2023 | Jun 29, 2023 | Oct 12, 2023 | $0.85 | 3.38% |
| 5 | Mar 20, 2023 | Mar 30, 2023 | Apr 13, 2023 | $0.733 | 2.59% |
FAQ
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