Banco De Chile Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Banco De Chile stock price after Friday trading.
(Updated on May 03, 2024)
The Banco De Chile stock price gained 1.17% on the last trading day (Friday, 3rd May 2024), rising from $22.19 to $22.45. During the last trading day the stock fluctuated 0.582% from a day low at $22.32 to a day high of $22.45. The price has risen in 6 of the last 10 days and is up by 2.23% over the past 2 weeks. Volume fell on the last day by -39 thousand shares and in total, 98 thousand shares were bought and sold for approximately $2.21 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.19% during the next 3 months and, with a 90% probability hold a price between $20.21 and $22.58 at the end of this 3-month period.
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BCH Signals & Forecast
The Banco De Chile stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $22.22 and $22.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.13%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Thursday, March 14, 2024 and based on theory for this formation the price should fall by -1.57% to $22.10 within 17 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Banco De Chile stock
Banco De Chile finds support from accumulated volume at $22.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.130 (0.582%) between high and low. For the last week, the stock has had daily average volatility of 1.53%.
Our recommended stop-loss: $21.41 (-4.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (BCH) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Banco De Chile to open at $22.41, and during the day (based on 14 day Average True Range), to move between $22.03 and $22.87, which gives a possible trading interval of +/-$0.423 (+/-1.89%) up or down from last closing price. If Banco De Chile takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.28 (0.76%) than the resistance at $22.80 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Banco De Chile stock A Buy?
Banco De Chile holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.197 Hold/Accumulate Upgraded
Predicted Opening Price for Banco De Chile of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $22.41 ( 0.193%) | $22.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.54 | 0.386 % | |
| R2 | 22.49 | 0.165 % | ||
| R1 | 22.46 | 0.0282 % | ||
| Current price: | 22.45 | |||
| Support | S1 | 22.36 | -0.414 % | |
| S2 | 22.33 | -0.551 % | ||
| S3 | 22.28 | -0.772 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.76 | 5.84 % | |
| R2 | 23.60 | 5.12 % | ||
| R1 | 22.80 | 1.56 % | ||
| Current price | 22.45 | |||
| Support | S1 | 22.28 | -0.757% | |
| S2 | 22.27 | -0.80% | ||
| S3 | 21.25 | -5.35% |
BCH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Mar 21, 2024 | Apr 05, 2024 | $1.09 | 4.75% |
| 2 | Feb 27, 2023 | Mar 16, 2023 | Mar 30, 2023 | $2.08 | 10.62% |
| 3 | Feb 03, 2022 | Mar 24, 2022 | Apr 07, 2022 | $1.33 | 6.09% |
| 4 | Mar 24, 2021 | Mar 26, 2021 | Mar 26, 2021 | $0.607 | 2.64% |
| 5 | Mar 06, 2019 | Mar 21, 2019 | Apr 04, 2019 | $1.06 | 3.54% |
FAQ
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