M&T Bank Corporation Stock Forecast
Green day on Friday for M&T Bank Corporation stock after gaining 2.93%
(Updated on Apr 19, 2024)
The M&T Bank Corporation stock price gained 2.93% on the last trading day (Friday, 19th Apr 2024), rising from $139.30 to $143.38. It has now gained 3 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 2.77% from a day low at $139.56 to a day high of $143.42. The price has risen in 7 of the last 10 days and is up by 3.37% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 835 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $218.47 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.28% during the next 3 months and, with a 90% probability hold a price between $136.15 and $150.26 at the end of this 3-month period.
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MTB Signals & Forecast
The M&T Bank Corporation 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 $138.54 and $140.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 6.55%. 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 M&T Bank Corporation stock
M&T Bank Corporation finds support from accumulated volume at $140.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.86 (2.77%) between high and low. For the last week, the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: $137.60 (-4.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (MTB) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect M&T Bank Corporation to open at $142.12, and during the day (based on 14 day Average True Range), to move between $139.63 and $147.13, which gives a possible trading interval of +/-$3.75 (+/-2.62%) up or down from last closing price. If M&T Bank Corporation takes out the full calculated possible swing range there will be an estimated 5.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $143.86 (0.33%) than the support at $140.94 (1.70%), 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 M&T Bank Corporation stock A Buy?
M&T Bank Corporation 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: 0.660 Hold/Accumulate Unchanged
Predicted Opening Price for M&T Bank Corporation of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$142.12 ( 0.88%) | $143.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 145.98 | 1.82 % | |
R2 | 144.51 | 0.786 % | ||
R1 | 143.59 | 0.150 % | ||
Current price: | 143.38 | |||
Support | S1 | 140.64 | -1.91 % | |
S2 | 139.73 | -2.55 % | ||
S3 | 138.25 | -3.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 145.85 | 1.72 % | |
R2 | 144.80 | 0.99 % | ||
R1 | 143.86 | 0.335 % | ||
Current price | 143.38 | |||
Support | S1 | 140.94 | -1.70% | |
S2 | 131.73 | -8.13% | ||
S3 | 130.47 | -9.00% |
MTB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 21, 2024 | Mar 01, 2024 | Mar 29, 2024 | $1.30 | 0.89% |
2 | Nov 14, 2023 | Nov 30, 2023 | Dec 29, 2023 | $1.30 | 0.95% |
3 | Aug 15, 2023 | Aug 31, 2023 | Sep 29, 2023 | $1.30 | 1.03% |
4 | May 16, 2023 | May 31, 2023 | Jun 30, 2023 | $1.30 | 1.05% |
5 | Feb 22, 2023 | Mar 03, 2023 | Jun 30, 2023 | $1.30 | 1.05% |
FAQ
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