Banco Latinoamericano de Comercio Stock Forecast
Banco Latinoamericano de Comercio stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Banco Latinoamericano de Comercio stock price fell by -0.646% on the last day (Tuesday, 7th May 2024) from $30.95 to $30.75. During the last trading day the stock fluctuated 2.42% from a day low at $30.57 to a day high of $31.31. The price has risen in 6 of the last 10 days and is up by 2.81% over the past 2 weeks. Volume has increased on the last day by 33 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 146 thousand shares were bought and sold for approximately $4.48 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.73% during the next 3 months and, with a 90% probability hold a price between $35.57 and $38.88 at the end of this 3-month period.
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BLX Signals & Forecast
The Banco Latinoamericano de Comercio 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 $29.83 and $29.62. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -0.646%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Banco Latinoamericano de Comercio stock
Banco Latinoamericano de Comercio finds support from accumulated volume at $29.59 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 $0.740 between high and low, or 2.42%. For the last week the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: $29.84 (-2.97%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BLX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Banco Latinoamericano de Comercio Exterior SA to open at $30.88, and during the day (based on 14 day Average True Range), to move between $29.98 and $31.52, which gives a possible trading interval of +/-$0.769 (+/-2.50%) up or down from last closing price. If Banco Latinoamericano de Comercio Exterior SA takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.95 (0.65%) than the support at $29.59 (3.77%), 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 Banco Latinoamericano de Comercio Exterior SA 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 Banco Latinoamericano de Comercio stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.624 Buy Candidate Downgraded
Predicted Opening Price for Banco Latinoamericano de Comercio Exterior SA of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$30.88 ( 0.412%) | $30.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.62 | 2.82 % | |
R2 | 31.33 | 1.90 % | ||
R1 | 31.16 | 1.33 % | ||
Current price: | 30.75 | |||
Support | S1 | 30.59 | -0.507 % | |
S2 | 30.42 | -1.08 % | ||
S3 | 30.14 | -1.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 30.95 | 0.650 % | ||
Current price | 30.75 | |||
Support | S1 | 29.59 | -3.77% | |
S2 | 27.40 | -10.89% | ||
S3 | 27.28 | -11.28% |
BLX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 18, 2024 | Apr 26, 2024 | May 15, 2024 | $0.500 | 1.63% |
2 | Feb 22, 2024 | Mar 01, 2024 | Mar 19, 2024 | $0.500 | 1.74% |
3 | Oct 27, 2023 | Oct 27, 2023 | Nov 16, 2023 | $0.250 | 1.03% |
4 | Jul 20, 2023 | Jul 28, 2023 | Aug 15, 2023 | $0.250 | 1.08% |
5 | Apr 18, 2023 | May 03, 2023 | Aug 15, 2023 | $0.250 | 1.08% |
FAQ
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