Bank of Marin Bancorp stock upgraded to Strong Buy Candidate.
(Updated on Dec 08, 2023)
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Given the current short-term trend, the stock is expected to rise 7.38% during the next 3 months and, with a 90% probability hold a price between $18.31 and $22.25 at the end of this 3-month period.
BMRC Signals & Forecast
The Bank of Marin Bancorp 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 $20.15 and $18.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, October 24, 2023, and so far it has risen 26.96%. Further rise is indicated until a new top pivot has been found. Bank of Marin Bancorp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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Support, Risk & Stop-loss for Bank of Marin Bancorp stock
On the downside, the stock finds support just below today's level from accumulated volume at $19.23 and $18.58. 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, Bank of Marin Bancorp finds support just below today's level at $19.23. If this is broken, then the next support from accumulated volume will be at $18.58 and $18.15.
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 $0.445 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: $19.94 (-3.78%) (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 (BMRC) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Bank of Marin Bancorp to open at $20.62, and during the day (based on 14 day Average True Range), to move between $20.06 and $21.38, which gives a possible trading interval of +/-$0.665 (+/-3.21%) up or down from last closing price. If Bank of Marin Bancorp takes out the full calculated possible swing range there will be an estimated 6.42% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $19.23, some $1.49 (7.19%) from the current price of $20.72, our system finds the risk reward attractive.
Is Bank of Marin Bancorp stock A Buy?
Bank of Marin Bancorp holds several positive signals and is within a weak 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.284 Open Broker AccountStrong Buy Candidate Upgraded
Predicted Opening Price for Bank of Marin Bancorp of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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