Berkshire Hills Bancorp Inc Stock Forecast
Green day on Friday for Berkshire Hills Bancorp Inc
(Updated on May 03, 2024)
The Berkshire Hills Bancorp Inc stock price gained 0.314% on the last trading day (Friday, 3rd May 2024), rising from $22.29 to $22.36. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.74% from a day low at $22.36 to a day high of $22.75. The price has risen in 6 of the last 10 days and is up by 2.99% 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, 78 thousand more shares were traded than the day before. In total, 168 thousand shares were bought and sold for approximately $3.75 million.
The stock lies the upper part of a wide and falling 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 $22.65 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.89% during the next 3 months and, with a 90% probability hold a price between $19.78 and $22.00 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BHLB Signals & Forecast
The Berkshire Hills Bancorp Inc 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 $22.01 and $21.83. 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 9.02%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Berkshire Hills Bancorp Inc stock
Berkshire Hills Bancorp Inc finds support from accumulated volume at $22.04 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 $0.390 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: $21.38 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (BHLB) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Berkshire Hills Bancorp Inc to open at $22.49, and during the day (based on 14 day Average True Range), to move between $21.79 and $22.93, which gives a possible trading interval of +/-$0.565 (+/-2.53%) up or down from last closing price. If Berkshire Hills Bancorp Inc takes out the full calculated possible swing range there will be an estimated 5.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.39 (0.13%) than the support at $22.04 (1.43%), 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 Berkshire Hills Bancorp Inc stock A Buy?
Berkshire Hills Bancorp Inc 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.
Current score: -0.279 Hold/Accumulate Unchanged
Predicted Opening Price for Berkshire Hills Bancorp Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$22.49 ( 0.581%) | $22.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHLB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.88 | 2.33 % | |
R2 | 22.73 | 1.66 % | ||
R1 | 22.64 | 1.25 % | ||
Current price: | 22.36 | |||
Support | S1 | 22.34 | -0.0849 % | |
S2 | 22.25 | -0.497 % | ||
S3 | 22.10 | -1.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.73 | 1.65 % | |
R2 | 22.50 | 0.626 % | ||
R1 | 22.39 | 0.134 % | ||
Current price | 22.36 | |||
Support | S1 | 22.04 | -1.43% | |
S2 | 22.01 | -1.57% | ||
S3 | 21.49 | -3.89% |
BHLB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 20, 2024 | Apr 04, 2024 | $0.180 | 0.82% |
2 | Nov 03, 2023 | Nov 15, 2023 | Nov 30, 2023 | $0.180 | 0.86% |
3 | Aug 04, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.180 | 0.86% |
4 | May 05, 2023 | May 17, 2023 | Jun 01, 2023 | $0.180 | 0.86% |
5 | Feb 03, 2023 | Feb 15, 2023 | Mar 02, 2023 | $0.180 | 0.630% |
FAQ
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