US Bancorp Stock Forecast
US Bancorp stock downgraded to Sell Candidate
(Updated on May 07, 2024)
The US Bancorp stock price fell by -0.574% on the last day (Tuesday, 7th May 2024) from $41.82 to $41.58. During the last trading day the stock fluctuated 1.62% from a day low at $41.41 to a day high of $42.08. The price has risen in 6 of the last 10 days and is up by 1.49% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately $305.16 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect US Bancorp stock with a 90% probability to be traded between $39.37 and $44.61 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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USB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.43%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The US Bancorp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $42.15. On a fall, the stock will find some support from the short-term average at $41.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for US Bancorp stock
US Bancorp finds support from accumulated volume at $40.97 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 $0.670 (1.62%) between high and low. For the last week, the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USB) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect US Bancorp to open at $41.69, and during the day (based on 14 day Average True Range), to move between $40.62 and $42.54, which gives a possible trading interval of +/-$0.96 (+/-2.30%) up or down from last closing price. If US Bancorp takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.97 (1.47%) than the resistance at $42.70 (2.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is US Bancorp stock A Buy?
US Bancorp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.176 Sell Candidate Downgraded
Predicted Opening Price for US Bancorp of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $41.69 ( 0.257%) | $41.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.36 | 1.87 % | |
| R2 | 42.10 | 1.25 % | ||
| R1 | 41.94 | 0.87 % | ||
| Current price: | 41.58 | |||
| Support | S1 | 41.43 | -0.359 % | |
| S2 | 41.27 | -0.739 % | ||
| S3 | 41.02 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.45 | 6.90 % | |
| R2 | 43.09 | 3.63 % | ||
| R1 | 42.70 | 2.69 % | ||
| Current price | 41.58 | |||
| Support | S1 | 40.97 | -1.47% | |
| S2 | 40.18 | -3.37% | ||
| S3 | 39.52 | -4.95% |
USB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.490 | 1.18% |
| 2 | Dec 12, 2023 | Dec 29, 2023 | Jan 16, 2024 | $0.490 | 1.18% |
| 3 | Dec 12, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.490 | 1.18% |
| 4 | Sep 12, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.480 | 1.47% |
| 5 | Jun 13, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.480 | 1.36% |
FAQ
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