Macro Bank Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Strong day for Macro Bank Inc stock price on Friday rising 7.32% to $60.22
(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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