Banc of California Inc Stock Forecast
Banc of California Inc stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Banc of California Inc stock price gained 1.61% on the last trading day (Wednesday, 1st May 2024), rising from $13.69 to $13.91. During the last trading day the stock fluctuated 3.33% from a day low at $13.81 to a day high of $14.27. The price has risen in 6 of the last 10 days and is up by 0.72% 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, 772 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $42.32 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.70 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 2.74% during the next 3 months and, with a 90% probability hold a price between $14.07 and $15.78 at the end of this 3-month period.
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BANC Signals & Forecast
The Banc of California Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.02 and $14.34. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.61%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Banc of California Inc stock
Banc of California Inc finds support from accumulated volume at $13.81 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 $0.460 between high and low, or 3.33%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: $13.14 (-5.51%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (BANC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Banc of California Inc to open at $14.00, and during the day (based on 14 day Average True Range), to move between $13.45 and $14.37, which gives a possible trading interval of +/-$0.455 (+/-3.27%) up or down from last closing price. If Banc of California Inc takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.95 (0.29%) than the support at $13.81 (0.72%), 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 Banc of California Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.587 Buy Candidate Upgraded
Predicted Opening Price for Banc of California Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $14.00 ( 0.623%) | $13.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BANC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.46 | 3.93 % | |
| R2 | 14.28 | 2.67 % | ||
| R1 | 14.17 | 1.89 % | ||
| Current price: | 13.91 | |||
| Support | S1 | 13.82 | -0.640 % | |
| S2 | 13.71 | -1.42 % | ||
| S3 | 13.54 | -2.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.21 | 9.35 % | |
| R2 | 14.63 | 5.18 % | ||
| R1 | 13.95 | 0.288 % | ||
| Current price | 13.91 | |||
| Support | S1 | 13.81 | -0.719% | |
| S2 | 13.45 | -3.31% | ||
| S3 | 12.74 | -8.41% |
BANC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.100 | 0.686% |
| 2 | Nov 10, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.100 | 0.752% |
| 3 | Aug 03, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.100 | 0.83% |
| 4 | May 12, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.100 | 0.85% |
| 5 | Feb 13, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.100 | 0.797% |
FAQ
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