Community Trust Bancorp Stock Forecast
Green day on Wednesday for Community Trust Bancorp
(Updated on Jun 05, 2024)
The Community Trust Bancorp stock price gained 1.06% on the last trading day (Wednesday, 5th Jun 2024), rising from $41.35 to $41.79. During the last trading day the stock fluctuated 1.16% from a day low at $41.31 to a day high of $41.79. The price has been going up and down for this period, and there has been a -3.44% loss for the last 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 29 thousand shares were bought and sold for approximately $1.20 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 lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $41.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.63% during the next 3 months and, with a 90% probability hold a price between $44.42 and $48.67 at the end of this 3-month period.
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CTBI Signals & Forecast
There are few to no technical positive signals at the moment. The Community Trust 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 $42.69. On a fall, the stock will find some support from the short-term average at $41.60. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -5.67%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Community Trust Bancorp stock
Community Trust Bancorp finds support from accumulated volume at $41.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.478 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTBI) For The Upcoming Trading Day Of Thursday 6th
For the upcoming trading day on Thursday, 6th we expect Community Trust Bancorp to open at $41.63, and during the day (based on 14 day Average True Range), to move between $40.96 and $42.62, which gives a possible trading interval of +/-$0.83 (+/-1.99%) up or down from last closing price. If Community Trust Bancorp takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.68 (0.26%) than the resistance at $42.11 (0.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Community Trust Bancorp stock A Buy?
The Community Trust Bancorp stock holds several negative signals and despite the positive trend, we believe Community Trust Bancorp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.103 Sell Candidate Unchanged
Predicted Opening Price for Community Trust Bancorp of Thursday, June 6, 2024
| Fair opening price June 6, 2024 | Current price |
|---|---|
| $41.63 ( 0.381%) | $41.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTBI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.11 | 0.762% |
| R2 | 41.93 | 0.325% |
| R1 | 41.81 | 0.0556% |
| Price | 41.79 | |
| S1 | 41.45 | -0.82% |
| S2 | 41.34 | -1.09% |
| S3 | 41.15 | -1.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.00 | 5.29% |
| R2 | 42.65 | 2.06% |
| R1 | 42.11 | 0.766% |
| Price | 41.79 | |
| S1 | 41.68 | -0.263% |
| S2 | 40.16 | -3.90% |
| S3 | 39.16 | -6.29% |
CTBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.460 | 1.10% |
| 2 | Mar 09, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.460 | 1.10% |
| 3 | Oct 24, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.460 | 1.05% |
| 4 | Jul 26, 2023 | Sep 14, 2023 | Oct 01, 2023 | $0.460 | 1.34% |
| 5 | Apr 25, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.440 | 1.21% |
FAQ
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