Home BancShares Stock Forecast
Weaker technical forecast for Home BancShares as stock downgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The Home BancShares stock price gained 1.60% on the last trading day (Tuesday, 23rd Apr 2024), rising from $24.30 to $24.69. It has now gained 5 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 2.79% from a day low at $24.21 to a day high of $24.88. The price has risen in 6 of the last 10 days and is up by 1.9% over the past 2 weeks. Volume fell on the last day by -71 thousand shares and in total, 1 million shares were bought and sold for approximately $25.45 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 has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $24.50 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $26.61 sometime during the next 3 months.
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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, 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 $23.41 and $23.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.22%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Home BancShares stock
Home BancShares finds support from accumulated volume at $24.54 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 $0.670 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $23.88 (-3.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (HOMB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Home BancShares to open at $24.59, and during the day (based on 14 day Average True Range), to move between $24.11 and $25.27, which gives a possible trading interval of +/-$0.581 (+/-2.36%) up or down from last closing price. If Home BancShares takes out the full calculated possible swing range there will be an estimated 4.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.83 (0.57%) than the support at $24.54 (0.61%), 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?
Home BancShares 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.041 Hold/Accumulate Downgraded
Predicted Opening Price for Home BancShares of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $24.59 ( 0.405%) | $24.69 |
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 | 25.26 | 2.31 % | |
| R2 | 25.00 | 1.27 % | ||
| R1 | 24.85 | 0.632 % | ||
| Current price: | 24.69 | |||
| Support | S1 | 24.33 | -1.44 % | |
| S2 | 24.18 | -2.08 % | ||
| S3 | 23.92 | -3.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 24.84 | 0.608 % | ||
| R1 | 24.83 | 0.567 % | ||
| Current price | 24.69 | |||
| Support | S1 | 24.54 | -0.608% | |
| S2 | 24.06 | -2.55% | ||
| S3 | 23.22 | -5.95% |
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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