First Busey Corporation Stock Forecast
Red day on Tuesday for First Busey Corporation stock after losing 0.692%
(Updated on Oct 03, 2023)
The First Busey Corporation stock price fell by -0.692% on the last day (Tuesday, 3rd Oct 2023) from $18.79 to $18.66. During the last trading day the stock fluctuated 2.28% from a day low at $18.45 to a day high of $18.87. The price has fallen in 7 of the last 10 days and is down by -3.57% 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 -30 thousand shares and in total, 121 thousand shares were bought and sold for approximately $2.25 million.
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The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.23% during the next 3 months and, with a 90% probability hold a price between $15.12 and $18.34 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
BUSE Signals & Forecast
There are few to no technical positive signals at the moment. The First Busey Corporation 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 $19.10 and $19.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, July 19, 2023, and so far it has fallen -18.37%. 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 First Busey Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.420 (2.28%) between high and low. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BUSE) For The Upcoming Trading Day Of Wednesday 4th
For the upcoming trading day on Wednesday, 4th we expect First Busey Corporation to open at $18.66, and during the day (based on 14 day Average True Range), to move between $18.17 and $19.15, which gives a possible trading interval of +/-$0.489 (+/-2.62%) up or down from last closing price. If First Busey Corporation takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $21.50, some $2.84 (15.22%) from the current price of $18.66, our system finds the risk reward not very attractive.
Is First Busey Corporation stock A Buy?
First Busey Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.777 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for First Busey Corporation of Wednesday, October 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price October 4, 2023 | Current price |
|---|---|
| $18.66 | $18.66 (Undervalued) |
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Trading levels for BUSE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.08 | 2.25 % | |
| R2 | 18.92 | 1.39 % | ||
| R1 | 18.82 | 0.86 % | ||
| Current price: | 18.66 | |||
| Support | S1 | 18.50 | -0.86 % | |
| S2 | 18.40 | -1.39 % | ||
| S3 | 18.24 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.00 | 17.90 % | |
| R2 | 21.72 | 16.40 % | ||
| R1 | 21.50 | 15.22 % | ||
| Current price | 18.66 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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About First Busey Corporation
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates through three segments: Banking, FirsTech, and Wealth Management. It offers customary types of demand and savings deposits; and commercial, agricultural, real estate construction, commercial and re... BUSE Profile
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