Macro Bank Inc Stock Forecast
Macro Bank Inc stock price up 0.94% on Wednesday
(Updated on May 01, 2024)
The Macro Bank Inc stock price gained 0.94% on the last trading day (Wednesday, 1st May 2024), rising from $54.16 to $54.67. 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 7.22% from a day low at $51.58 to a day high of $55.30. The price has risen in 8 of the last 10 days and is up by 13.68% over the past 2 weeks. Volume fell on the last day by -473 thousand shares and in total, 255 thousand shares were bought and sold for approximately $13.92 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 middle of a wide and strong 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 66.83% during the next 3 months and, with a 90% probability hold a price between $87.36 and $104.92 at the end of this 3-month period.
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BMA Signals & Forecast
Mostly positive signals in the chart today. The Macro Bank Inc 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 $51.93 and $49.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 08, 2024, and so far it has risen 89.69%. 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 Macro Bank Inc stock
Macro Bank Inc finds support from accumulated volume at $54.16 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 $3.72 between high and low, or 7.22%. For the last week, the stock has had daily average volatility of 5.94%.
Our recommended stop-loss: $52.83 (-3.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (BMA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Macro Bank Inc to open at $53.85, and during the day (based on 14 day Average True Range), to move between $51.69 and $57.65, which gives a possible trading interval of +/-$2.98 (+/-5.46%) up or down from last closing price. If Macro Bank Inc takes out the full calculated possible swing range there will be an estimated 10.91% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $54.16, some $0.510 (0.93%) from the current price of $54.67, our system finds the risk reward attractive.
Is Macro Bank Inc stock A Buy?
Macro Bank Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.953 Strong Buy Candidate Unchanged
Predicted Opening Price for Macro Bank Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $53.85 ( 1.50%) | $54.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.57 | 5.31 % | |
| R2 | 56.15 | 2.71 % | ||
| R1 | 55.27 | 1.10 % | ||
| Current price: | 54.67 | |||
| Support | S1 | 52.43 | -4.10 % | |
| S2 | 51.55 | -5.71 % | ||
| S3 | 50.13 | -8.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 54.67 | |||
| Support | S1 | 54.16 | -0.93% | |
| S2 | 51.74 | -5.36% | ||
| S3 | 51.07 | -6.58% |
BMA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Jan 05, 2024 | Jan 16, 2024 | $0.596 | 2.32% |
| 2 | Sep 11, 2023 | Sep 20, 2023 | Sep 28, 2023 | $0.426 | 2.05% |
| 3 | Aug 08, 2023 | Aug 17, 2023 | Aug 25, 2023 | $0.450 | 1.82% |
| 4 | Jul 28, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.452 | 1.92% |
| 5 | Jul 07, 2023 | Jul 19, 2023 | Aug 14, 2023 | $0.450 | 1.91% |
FAQ
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