California BanCorp 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
Red day on Friday for California BanCorp
(Updated on Jun 21, 2024)
The California BanCorp stock price fell by -2.58% on the last day (Friday, 21st Jun 2024) from $21.31 to $20.76. During the last trading day the stock fluctuated 3.48% from a day low at $20.71 to a day high of $21.43. The price has been going up and down for this period, and there has been a -1.56% loss 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 -17 thousand shares and in total, 17 thousand shares were bought and sold for approximately $355.08 thousand.
The stock lies in the middle of a 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 -3.60% during the next 3 months and, with a 90% probability hold a price between $19.52 and $21.24 at the end of this 3-month period.
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CALB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.17%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The California BanCorp 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 $20.90 and $21.59. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for California BanCorp stock
California BanCorp finds support from accumulated volume at $20.70 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.720 between high and low, or 3.48%. For the last week the stock has had daily average volatility of 2.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CALB) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect California BanCorp to open at $20.97, and during the day (based on 14 day Average True Range), to move between $20.25 and $21.27, which gives a possible trading interval of +/-$0.511 (+/-2.46%) up or down from last closing price. If California BanCorp takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.70 (0.29%) than the resistance at $21.62 (4.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is California BanCorp stock A Buy?
California BanCorp holds several negative signals and is within a 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: -2.366 Sell Candidate Unchanged
Predicted Opening Price for California BanCorp of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $20.97 ( 1.00%) | $20.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CALB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.69 | 4.46% |
| R2 | 21.41 | 3.14% |
| R1 | 21.24 | 2.32% |
| Price | 20.76 | |
| S1 | 20.69 | -0.329% |
| S2 | 20.52 | -1.15% |
| S3 | 20.25 | -2.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.00 | 5.97% |
| R2 | 21.99 | 5.92% |
| R1 | 21.62 | 4.14% |
| Price | 20.76 | |
| S1 | 20.70 | -0.289% |
| S2 | 20.40 | -1.73% |
| S3 | 20.32 | -2.12% |
FAQ
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