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Allegiance Bancshares Stock Forecast NASDAQ:ABTX

$40.51 (-1.77%)

Volume: 60k

Closed: Dec 03, 2021

Hollow Logo Score: -3.730

Allegiance Bancshares Stock Forecast

$40.51 (-1.77%)

Volume: 60k

Closed: Dec 03, 2021

Score Hollow Logo -3.730
Which way will ABTX go? Request
Key Stats
P/E Ratio 10.80
Beta 1
Trailing Dividend Rate 1.18% ($0.48)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 42 and the stock is currently not being overbought or oversold

Allegiance Bancshares stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Dec 03, 2021)


Sell candidate since 2021-12-03

The Allegiance Bancshares stock price fell by -1.77% on the last day (Friday, 3rd Dec 2021) from $41.24 to $40.51. During the day the stock fluctuated 3.56% from a day low at $40.40 to a day high of $41.84. The price has fallen in 7 of the last 10 days and is down by -7.97% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -31 thousand shares and in total, 60 thousand shares were bought and sold for approximately $2.42 million.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $40.03 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 21.71% during the next 3 months and, with a 90% probability hold a price between $48.72 and $56.31 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Allegiance Bancshares stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $41.58 and $41.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 23, 2021, and so far it has fallen -10.63%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

Allegiance Bancshares finds support from accumulated volume at $39.76 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 $1.44 between high and low, or 3.56%. For the last week, the stock has had a daily average volatility of 5.08%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Allegiance Bancshares stock A Buy?

The Allegiance Bancshares stock holds several negative signals and despite the positive trend, we believe Allegiance Bancshares will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.730

Predicted Opening Price for Allegiance Bancshares of Monday, December 6, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 6, 2021 Current price
$40.92 $40.51 (Undervalued)
Sell Candidate Downgraded

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Analyst Ratings

Piper Sandler does not see either upside or downside right now giving ABTX "Neutral" on their last update on Sep 30, 2020. The price target was changed from $27.00 to $26.00.

Volatility and Risk
Daily Average Volatility: 5.08 %
Overall Risk: Very High High Medium Low Very Low
Volatility
5.08 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $42.31
Price: $40.51
Support: $39.76

ABTX Insider Trading Show all Trades

INSIDER POWER

0.946

Last 100 transactions
Buy: 81 472 | Sell: 86 098 (Shares)
Date Action Amount Person Type
Apr 22, 2021 Buy 758 Nichols, Iii William S. Common Stock
Apr 22, 2021 Buy 758 Riojas Aguirre Raimundo Common Stock
Apr 22, 2021 Buy 758 Beckworth John Common Stock
Apr 22, 2021 Buy 758 Castillo-rhodes Denise Common Stock
Apr 22, 2021 Buy 758 Duplantier Jon-al Common Stock
Show all Insider Trades
INSIDER POWER

0.946

Last 100 transactions
Buy: 81 472 | Sell: 86 098 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 42.36 4.56 %
41.81 3.20 %
41.47 2.36 %
Current price: 40.51
Support 40.37 -0.35 %
40.03 -1.19 %
39.48 -2.55 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 43.05 6.27 %
42.80 5.65 %
42.31 4.44 %
Current price 40.51
Support 39.76 -1.85%
38.78 -4.27%
36.61 -9.63%

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About Allegiance Bancshares

Allegiance Bancshares Allegiance Bancshares, Inc. operates as the bank holding company for Allegiance Bank that provides a range of commercial banking services primarily to small and medium-sized businesses, professionals, and individual customers. It accepts deposit products, including checking accounts, commercial accounts, savings accounts, and other time deposits comprising money market accounts and certificates of deposit. The company also grants various loan pro... Read more

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