Macro Bank Inc Stock Forecast
Stronger technical forecast for Macro Bank Inc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Macro Bank Inc stock price gained 3.43% on the last trading day (Tuesday, 2nd Jul 2024), rising from $52.99 to $54.81. During the last trading day the stock fluctuated 5.52% from a day low at $52.07 to a day high of $54.95. The price has been going up and down for this period, and there has been a -11.65% loss for the last 2 weeks. Volume fell on the last day by -166 thousand shares and in total, 274 thousand shares were bought and sold for approximately $15.01 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $53.16 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.33% during the next 3 months and, with a 90% probability hold a price between $62.38 and $84.97 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BMA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 3.43%. 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. The Macro Bank Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $56.59 and $60.65. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Macro Bank Inc stock
Macro Bank Inc finds support from accumulated volume at $54.16 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 $2.88 between high and low, or 5.52%. For the last week, the stock has had daily average volatility of 5.39%.
Our recommended stop-loss: $52.20 (-4.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (BMA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Macro Bank Inc to open at $53.94, and during the day (based on 14 day Average True Range), to move between $51.41 and $58.21, which gives a possible trading interval of +/-$3.40 (+/-6.21%) up or down from last closing price. If Macro Bank Inc takes out the full calculated possible swing range there will be an estimated 12.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $54.16 (1.19%) than the resistance at $63.00 (14.94%), 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?
Macro Bank Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.113 Hold/Accumulate Upgraded
Predicted Opening Price for Macro Bank Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $53.94 ( 1.58%) | $54.81 |
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 | |
|---|---|---|
| R3 | 56.82 | 3.66% |
| R2 | 55.72 | 1.66% |
| R1 | 55.04 | 0.419% |
| Price | 54.81 | |
| S1 | 52.84 | -3.59% |
| S2 | 52.16 | -4.83% |
| S3 | 51.07 | -6.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 66.05 | 20.51% |
| R2 | 64.20 | 17.13% |
| R1 | 63.00 | 14.94% |
| Price | 54.81 | |
| S1 | 54.16 | -1.19% |
| S2 | 53.27 | -2.81% |
| S3 | 51.07 | -6.82% |
BMA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 17, 2024 | Jun 24, 2024 | $1.74 | 3.01% |
| 2 | Dec 28, 2023 | Jan 05, 2024 | Jan 16, 2024 | $0.596 | 2.32% |
| 3 | Sep 11, 2023 | Sep 20, 2023 | Sep 28, 2023 | $0.426 | 2.05% |
| 4 | Aug 08, 2023 | Aug 17, 2023 | Aug 25, 2023 | $0.450 | 1.82% |
| 5 | Jul 28, 2023 | Aug 04, 2023 | Aug 14, 2023 | $0.452 | 1.92% |
FAQ
Click here for our free guide on how to buy Macro Bank Inc Stock.
