Affinity Bancshares, Inc. Stock Forecast
Stronger technical forecast for Affinity Bancshares, Inc. stock price after Friday trading.
(Updated on May 03, 2024)
The Affinity Bancshares, Inc. stock price fell by -0.595% on the last day (Friday, 3rd May 2024) from $16.80 to $16.70. During the last trading day the stock fluctuated 1.74% from a day low at $16.62 to a day high of $16.91. The price has fallen in 6 of the last 10 days but is still up by 0.6% over the past 2 weeks. 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 -3 thousand shares and in total, 1 thousand shares were bought and sold for approximately $22.13 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Affinity Bancshares, Inc. stock with a 90% probability to be traded between $15.91 and $17.22 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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AFBI Signals & Forecast
The Affinity Bancshares, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $16.78. On a fall, the stock will find some support from the long-term average at approximately $16.55. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, March 28, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, March 28, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Affinity Bancshares, Inc. stock
Affinity Bancshares, Inc. finds support from accumulated volume at $16.55 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 very controlled movements and therefore the general risk is considered very 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 $0.290 between high and low, or 1.74%. For the last week the stock has had daily average volatility of 0.786%
Our recommended stop-loss: $16.01 (-4.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (AFBI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Affinity Bancshares, Inc. to open at $16.74, and during the day (based on 14 day Average True Range), to move between $16.45 and $16.95, which gives a possible trading interval of +/-$0.255 (+/-1.52%) up or down from last closing price. If Affinity Bancshares, Inc. takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.71 (0.06%) than the support at $16.55 (0.90%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Affinity Bancshares, Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Affinity Bancshares, Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.228 Buy Candidate Upgraded
Predicted Opening Price for Affinity Bancshares, Inc. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$16.74 ( 0.259%) | $16.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFBI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.03 | 2.00 % | |
R2 | 16.92 | 1.33 % | ||
R1 | 16.85 | 0.92 % | ||
Current price: | 16.70 | |||
Support | S1 | 16.63 | -0.404 % | |
S2 | 16.56 | -0.81 % | ||
S3 | 16.45 | -1.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.94 | 1.44 % | |
R2 | 16.77 | 0.419 % | ||
R1 | 16.71 | 0.0599 % | ||
Current price | 16.70 | |||
Support | S1 | 16.55 | -0.90% | |
S2 | 16.51 | -1.14% | ||
S3 | 16.40 | -1.80% |
FAQ
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