Mercantil Bank Holding Corp. Class A Stock Forecast
Evaluation of Mercantil Bank Holding Corp. Class A stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Mercantil Bank Holding Corp. Class A stock price fell by -2.26% on the last day (Friday, 26th Apr 2024) from $22.08 to $21.58. During the last trading day the stock fluctuated 3.48% from a day low at $21.53 to a day high of $22.28. The price has fallen in 5 of the last 10 days but is still up by 2.03% 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 -117 thousand shares and in total, 51 thousand shares were bought and sold for approximately $1.11 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 Mercantil Bank Holding Corp. Class A stock with a 90% probability to be traded between $20.05 and $22.80 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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AMTB Signals & Forecast
There are few to no technical positive signals at the moment. The Mercantil Bank Holding Corp. Class A 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 $22.13 and $22.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.02%. 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 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.
Support, Risk & Stop-loss for Mercantil Bank Holding Corp. Class A stock
Mercantil Bank Holding Corp. Class A finds support from accumulated volume at $21.55 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.750 between high and low, or 3.48%. For the last week the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMTB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Mercantil Bank Holding Corp. Class A to open at $21.80, and during the day (based on 14 day Average True Range), to move between $20.88 and $22.28, which gives a possible trading interval of +/-$0.695 (+/-3.22%) up or down from last closing price. If Mercantil Bank Holding Corp. Class A takes out the full calculated possible swing range there will be an estimated 6.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.55 (0.14%) than the resistance at $21.79 (0.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mercantil Bank Holding Corp. Class A stock A Buy?
Mercantil Bank Holding Corp. Class A holds several negative signals and is within a wide and falling trend, so we believe 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 Hold/Accumulate to a Sell candidate.
Current score: -2.937 Sell Candidate Downgraded
Predicted Opening Price for Mercantil Bank Holding Corp. Class A of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $21.80 ( 1.00%) | $21.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMTB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.55 | 4.48 % | |
| R2 | 22.26 | 3.15 % | ||
| R1 | 22.08 | 2.33 % | ||
| Current price: | 21.58 | |||
| Support | S1 | 21.51 | -0.324 % | |
| S2 | 21.33 | -1.14 % | ||
| S3 | 21.05 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.29 | 3.29 % | |
| R2 | 22.08 | 2.32 % | ||
| R1 | 21.79 | 0.97 % | ||
| Current price | 21.58 | |||
| Support | S1 | 21.55 | -0.139% | |
| S2 | 21.52 | -0.278% | ||
| S3 | 21.50 | -0.371% |
AMTB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Feb 13, 2024 | Feb 29, 2024 | $0.0900 | 0.425% |
| 2 | Oct 19, 2023 | Nov 13, 2023 | Nov 30, 2023 | $0.0900 | 0.435% |
| 3 | Jul 19, 2023 | Aug 14, 2023 | Aug 31, 2023 | $0.0900 | 0.484% |
| 4 | Apr 19, 2023 | May 12, 2023 | Aug 31, 2023 | $0.0900 | 0.484% |
| 5 | Jan 18, 2023 | Feb 10, 2023 | Feb 28, 2023 | $0.0900 | 0.317% |
FAQ
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