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$21.98 (-1.92%)

Volume: 149.735k

Closed: Sep 30, 2022

Hollow Logo Score: -2.814

First Busey Corporation Stock Forecast

$21.98 (-1.92%)

Volume: 149.735k

Closed: Sep 30, 2022

Score Hollow Logo -2.814
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 34 and the stock is currently not being overbought or oversold
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Weaker technical forecast for First Busey Corporation as stock downgraded to Sell Candidate.
(Updated on Sep 30, 2022)

Sell candidate since 2022-09-30 PDF

The First Busey Corporation stock price fell by -1.92% on the last day (Friday, 30th Sep 2022) from $22.41 to $21.98. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.73% from a day low at $21.97 to a day high of $22.57. The price has fallen in 7 of the last 10 days and is down by -6.31% for this period. Volume has increased on the last day by 47 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 150 thousand shares were bought and sold for approximately $3.29 million.

The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.92 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.33% during the next 3 months and, with a 90% probability hold a price between $20.97 and $23.59 at the end of this 3-month period.

Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $22.70 and $23.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, August 16, 2022, and so far it has fallen -12.85%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

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.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.60 between high and low, or 2.73%. For the last week the stock has had daily average volatility of 3.21%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect First Busey Corporation to open at $22.17, and during the day (based on 14 day Average True Range), to move between $21.42 and $22.54, which gives a possible trading interval of +/-$0.56 (+/-2.54%) up or down from last closing price. If First Busey Corporation takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $1.41 (6.41%) our system find 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.814

Sell Candidate Downgraded

Predicted Opening Price for First Busey Corporation of Monday, October 3, 2022

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price October 3, 2022 Current price
$22.17 $21.98 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 22.77 3.61 %
22.54 2.57 %
22.40 1.92 %
Current price: 21.98
Support 21.94 -0.16 %
21.80 -0.81 %
21.57 -1.85 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 23.87 8.60 %
23.76 8.10 %
23.39 6.41 %
Current price 21.98
Support 0 .
0 .
0 .

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About First Busey Corporation

First Busey 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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