Macro Bank Inc Stock Forecast
Macro Bank Inc stock price fell more than -5.93% Wednesday closing at $48.98
(Updated on Apr 24, 2024)
The Macro Bank Inc stock price fell by -5.93% on the last day (Wednesday, 24th Apr 2024) from $52.07 to $48.98. During the last trading day the stock fluctuated 7.24% from a day low at $48.72 to a day high of $52.24. The price has risen in 6 of the last 10 days but is still down by -2.84% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -78 thousand shares and in total, 330 thousand shares were bought and sold for approximately $16.17 million.
Given the current short-term trend, the stock is expected to rise 84.66% during the next 3 months and, with a 90% probability hold a price between $90.45 and $99.85 at the end of this 3-month period.
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BMA Signals & Forecast
The Macro Bank Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $49.80. On a fall, the stock will find some support from the long-term average at approximately $47.76. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 22, 2024, and so far it has fallen -8.05%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Macro Bank Inc stock
Macro Bank Inc finds support from accumulated volume at $48.18 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 $3.53 between high and low, or 7.24%. For the last week, the stock has had daily average volatility of 6.36%.
Our recommended stop-loss: $46.02 (-6.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (BMA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Macro Bank Inc to open at $49.98, and during the day (based on 14 day Average True Range), to move between $46.03 and $51.93, which gives a possible trading interval of +/-$2.95 (+/-6.02%) up or down from last closing price. If Macro Bank Inc takes out the full calculated possible swing range there will be an estimated 12.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.18 (1.63%) than the resistance at $51.07 (4.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Macro Bank Inc 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 Macro Bank Inc stock to perform well in the short-term.
Current score: 1.974 Buy Candidate Unchanged
Predicted Opening Price for Macro Bank Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $49.98 ( 2.04%) | $48.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.50 | 9.24 % | |
| R2 | 52.16 | 6.49 % | ||
| R1 | 51.32 | 4.79 % | ||
| Current price: | 48.98 | |||
| Support | S1 | 48.63 | -0.711 % | |
| S2 | 47.80 | -2.41 % | ||
| S3 | 46.45 | -5.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.09 | 6.35 % | |
| R2 | 51.74 | 5.63 % | ||
| R1 | 51.07 | 4.27 % | ||
| Current price | 48.98 | |||
| Support | S1 | 48.18 | -1.63% | |
| S2 | 47.46 | -3.10% | ||
| S3 | 39.79 | -18.76% |
BMA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Jan 05, 2024 | Jan 16, 2024 | $0.596 | 2.32% |
| 2 | Sep 11, 2023 | Sep 20, 2023 | Sep 28, 2023 | $0.426 | 2.05% |
| 3 | Aug 08, 2023 | Aug 17, 2023 | Aug 25, 2023 | $0.450 | 1.82% |
| 4 | Jul 28, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.452 | 1.92% |
| 5 | Jul 07, 2023 | Jul 19, 2023 | Aug 14, 2023 | $0.450 | 1.91% |
FAQ
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