Macro Bank Inc Stock Forecast
On Friday, Macro Bank Inc stock price gained an impressive 7.32%
(Updated on May 03, 2024)
The Macro Bank Inc stock price gained 7.32% on the last trading day (Friday, 3rd May 2024), rising from $56.11 to $60.22. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 7.68% from a day low at $56.27 to a day high of $60.59. The price has risen in 8 of the last 10 days and is up by 20.88% 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, 303 thousand more shares were traded than the day before. In total, 639 thousand shares were bought and sold for approximately $38.47 million.
The stock lies in the middle of a wide and 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 69.80% during the next 3 months and, with a 90% probability hold a price between $88.21 and $108.61 at the end of this 3-month period.
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BMA Signals & Forecast
Mostly positive signals in the chart today. The Macro Bank 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 $54.11 and $50.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 22.95%. 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 Macro Bank Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $54.16 and $51.74. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Macro Bank Inc finds support just below today's level at $54.16. If this is broken, then the next support from accumulated volume will be at $51.74 and $51.07.
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 $4.32 between high and low, or 7.68%. For the last week, the stock has had daily average volatility of 6.42%.
Since the Macro Bank Inc has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $58.17 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (BMA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Macro Bank Inc to open at $59.03, and during the day (based on 14 day Average True Range), to move between $57.14 and $63.30, which gives a possible trading interval of +/-$3.08 (+/-5.11%) up or down from last closing price. If Macro Bank Inc takes out the full calculated possible swing range there will be an estimated 10.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $54.16, some $6.06 (10.06%) from the current price of $60.22, our system finds the risk reward attractive.
Is Macro Bank Inc stock A Buy?
Macro Bank Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.282 Strong Buy Candidate Unchanged
Predicted Opening Price for Macro Bank Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $59.03 ( 1.98%) | $60.22 |
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 | 63.35 | 5.19 % | |
| R2 | 61.70 | 2.45 % | ||
| R1 | 60.68 | 0.759 % | ||
| Current price: | 60.22 | |||
| Support | S1 | 57.38 | -4.72 % | |
| S2 | 56.36 | -6.41 % | ||
| S3 | 54.71 | -9.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 60.22 | |||
| Support | S1 | 54.16 | -10.06% | |
| S2 | 51.74 | -14.08% | ||
| S3 | 51.07 | -15.19% |
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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