CADENCE FINANCIAL CORP Stock Forecast
CADENCE FINANCIAL CORP stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 30, 2024)
The CADENCE FINANCIAL CORP stock price fell by -2.30% on the last day (Tuesday, 30th Apr 2024) from $28.32 to $27.67. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.06% from a day low at $27.64 to a day high of $28.21. The price has been going up and down for this period, and there has been a 4.81% gain for the last 2 weeks. 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 -380 thousand shares and in total, 789 thousand shares were bought and sold for approximately $21.83 million.
The stock lies in the middle of a wide and weak 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 5.78% during the next 3 months and, with a 90% probability hold a price between $28.12 and $31.28 at the end of this 3-month period.
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CADE 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 CADENCE FINANCIAL CORP stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $28.58 and $27.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.79%. Further fall is indicated until a new bottom pivot has been found. 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 CADENCE FINANCIAL CORP stock
CADENCE FINANCIAL CORP finds support from accumulated volume at $26.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.570 between high and low, or 2.06%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: $26.08 (-5.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (CADE) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect CADENCE FINANCIAL CORP to open at $27.84, and during the day (based on 14 day Average True Range), to move between $26.87 and $28.47, which gives a possible trading interval of +/-$0.800 (+/-2.89%) up or down from last closing price. If CADENCE FINANCIAL CORP takes out the full calculated possible swing range there will be an estimated 5.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.74 (0.25%) than the support at $26.75 (3.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is CADENCE FINANCIAL CORP stock A Buy?
CADENCE FINANCIAL CORP holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.589 Hold/Accumulate Downgraded
Predicted Opening Price for CADENCE FINANCIAL CORP of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$27.84 ( 0.614%) | $27.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CADE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.41 | 2.67 % | |
R2 | 28.19 | 1.89 % | ||
R1 | 28.06 | 1.40 % | ||
Current price: | 27.67 | |||
Support | S1 | 27.62 | -0.173 % | |
S2 | 27.49 | -0.659 % | ||
S3 | 27.27 | -1.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 29.37 | 6.14 % | |
R2 | 28.89 | 4.41 % | ||
R1 | 27.74 | 0.253 % | ||
Current price | 27.67 | |||
Support | S1 | 26.75 | -3.32% | |
S2 | 26.62 | -3.79% | ||
S3 | 26.04 | -5.89% |
CADE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 24, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.250 | 0.87% |
2 | Oct 25, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.235 | 0.797% |
3 | Jul 26, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.235 | 1.13% |
4 | Apr 26, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.235 | 1.17% |
5 | Jan 25, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.235 | 1.15% |
FAQ
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