Bank of South Carolina Corp. Stock Forecast
A very strong day for Bank of South Carolina Corp. stock price on Thursday
(Updated on May 02, 2024)
The Bank of South Carolina Corp. stock price gained 6.45% on the last trading day (Thursday, 2nd May 2024), rising from $12.40 to $13.20. It has now gained 4 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 5.77% from a day low at $12.48 to a day high of $13.20. The price has risen in 7 of the last 10 days and is up by 9.88% 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, 323 more shares were traded than the day before. In total, 492 shares were bought and sold for approximately $6.49 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $12.61, a level that may pose a second chance to hit a runner. According to fan-theory $13.86 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BKSC Signals & Forecast
The Bank of South Carolina Corp. 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 $12.35 and $12.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 11.39%. 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). Bank of South Carolina Corp. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bank of South Carolina Corp. stock
Bank of South Carolina Corp. finds support from accumulated volume at $12.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.720 between high and low, or 5.77%. For the last week the stock has had daily average volatility of 2.71%.
The Bank of South Carolina Corp. stock is extremely overbought on RSI14 (75). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $12.56 (-4.82%) (This stock has low daily movements and this gives low risk. The RSI14 is 75 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (BKSC) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bank of South Carolina Corp. to open at $12.96, and during the day (based on 14 day Average True Range), to move between $12.92 and $13.48, which gives a possible trading interval of +/-$0.277 (+/-2.10%) up or down from last closing price. If Bank of South Carolina Corp. takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $12.65, some $0.555 (4.20%) from the current price of $13.20, our system finds the risk reward attractive.
Is Bank of South Carolina Corp. stock A Buy?
Bank of South Carolina Corp. 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Bank of South Carolina Corp. of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$12.96 ( 1.82%) | $13.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKSC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.68 | 3.64 % | |
R2 | 13.40 | 1.55 % | ||
R1 | 13.24 | 0.265 % | ||
Current price: | 13.20 | |||
Support | S1 | 12.68 | -3.90 % | |
S2 | 12.52 | -5.19 % | ||
S3 | 12.24 | -7.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 13.20 | |||
Support | S1 | 12.65 | -4.20% | |
S2 | 12.50 | -5.30% | ||
S3 | 11.85 | -10.23% |
BKSC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 08, 2024 | Apr 08, 2024 | Apr 30, 2024 | $0.170 | 1.38% |
2 | Jan 02, 2024 | Jan 02, 2024 | Jan 31, 2024 | $0.170 | 1.33% |
3 | Sep 29, 2023 | Oct 06, 2023 | Oct 31, 2023 | $0.170 | 1.49% |
4 | Jun 22, 2023 | Jun 30, 2023 | Jul 31, 2023 | $0.170 | 1.20% |
5 | Jun 28, 2023 | Apr 03, 2023 | Apr 28, 2023 | $0.170 | 1.18% |
FAQ
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