Ameris Bancorp Stock Forecast
Ameris Bancorp stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The Ameris Bancorp stock price gained 2.34% on the last trading day (Friday, 3rd May 2024), rising from $48.68 to $49.82. 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 1.63% from a day low at $49.19 to a day high of $49.99. The price has risen in 8 of the last 10 days and is up by 7.65% over the past 2 weeks. Volume fell on the last day by -62 thousand shares and in total, 271 thousand shares were bought and sold for approximately $13.51 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. $48.53 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 $52.54 sometime during the next 3 months.
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ABCB Signals & Forecast
Mostly positive signals in the chart today. The Ameris Bancorp 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 $48.27 and $46.92. 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 12.11%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Ameris Bancorp stock
Ameris Bancorp finds support from accumulated volume at $48.03 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 $0.80 between high and low, or 1.63%. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: $48.17 (-3.31%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ABCB) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ameris Bancorp to open at $49.67, and during the day (based on 14 day Average True Range), to move between $48.60 and $51.04, which gives a possible trading interval of +/-$1.22 (+/-2.44%) up or down from last closing price. If Ameris Bancorp takes out the full calculated possible swing range there will be an estimated 4.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $48.03, some $1.79 (3.59%) from the current price of $49.82, our system finds the risk reward attractive.
Is Ameris Bancorp stock A Buy?
Ameris Bancorp holds several positive signals and has broken the horizontal trend up. As the stock is in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.288 Strong Buy Candidate Upgraded
Predicted Opening Price for Ameris Bancorp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $49.67 ( 0.308%) | $49.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABCB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.47 | 1.30 % | |
| R2 | 50.16 | 0.685 % | ||
| R1 | 49.97 | 0.306 % | ||
| Current price: | 49.82 | |||
| Support | S1 | 49.36 | -0.92 % | |
| S2 | 49.17 | -1.30 % | ||
| S3 | 48.87 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 49.82 | |||
| Support | S1 | 48.03 | -3.59% | |
| S2 | 47.42 | -4.82% | ||
| S3 | 46.95 | -5.76% |
ABCB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 27, 2024 | Apr 08, 2024 | $0.150 | 0.315% |
| 2 | Dec 11, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.150 | 0.291% |
| 3 | Sep 15, 2023 | Sep 28, 2023 | Oct 09, 2023 | $0.150 | 0.392% |
| 4 | Jun 05, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.150 | 0.435% |
| 5 | Mar 16, 2023 | Mar 30, 2023 | Apr 10, 2023 | $0.150 | 0.432% |
FAQ
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