Mercantil Bank Holding Corp. Class A Stock Forecast
Mercantil Bank Holding Corp. Class A stock price ended at $23.13 on Thursday, after gaining 1.58%.
(Updated on May 09, 2024)
The Mercantil Bank Holding Corp. Class A stock price gained 1.58% on the last trading day (Thursday, 9th May 2024), rising from $22.77 to $23.13. During the last trading day the stock fluctuated 2.29% from a day low at $22.72 to a day high of $23.24. The price has risen in 6 of the last 10 days and is up by 4.76% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 47 thousand shares were bought and sold for approximately $1.10 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $23.54 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.26% during the next 3 months and, with a 90% probability hold a price between $21.41 and $24.07 at the end of this 3-month period.
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AMTB Signals & Forecast
Mostly positive signals in the chart today. The Mercantil Bank Holding Corp. Class A 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 $22.65 and $22.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 11.20%. 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). Mercantil Bank Holding Corp. Class A has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces 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 $22.72 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 $0.520 between high and low, or 2.29%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: $22.00 (-4.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (AMTB) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Mercantil Bank Holding Corp. Class A to open at $23.03, and during the day (based on 14 day Average True Range), to move between $22.49 and $23.77, which gives a possible trading interval of +/-$0.636 (+/-2.75%) 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 5.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.29 (0.69%) than the support at $22.72 (1.77%), 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 Mercantil Bank Holding Corp. Class A stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mercantil Bank Holding Corp. Class A stock to perform well in the short-term.
Current score: 3.296 Buy Candidate Unchanged
Predicted Opening Price for Mercantil Bank Holding Corp. Class A of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $23.03 ( 0.432%) | $23.13 |
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 | 23.55 | 1.82 % | |
| R2 | 23.35 | 0.96 % | ||
| R1 | 23.23 | 0.426 % | ||
| Current price: | 23.13 | |||
| Support | S1 | 22.83 | -1.29 % | |
| S2 | 22.71 | -1.82 % | ||
| S3 | 22.51 | -2.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 23.29 | 0.692 % | ||
| Current price | 23.13 | |||
| Support | S1 | 22.72 | -1.77% | |
| S2 | 22.08 | -4.54% | ||
| S3 | 22.04 | -4.71% |
AMTB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 24, 2024 | May 14, 2024 | May 30, 2024 | $0.0900 | 0.389% |
| 2 | Feb 13, 2024 | Feb 13, 2024 | Feb 29, 2024 | $0.0900 | 0.425% |
| 3 | Oct 19, 2023 | Nov 13, 2023 | Nov 30, 2023 | $0.0900 | 0.435% |
| 4 | Jul 19, 2023 | Aug 14, 2023 | Aug 31, 2023 | $0.0900 | 0.484% |
| 5 | Apr 19, 2023 | May 12, 2023 | Aug 31, 2023 | $0.0900 | 0.484% |
FAQ
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