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Cathay General Bancorp Stock Forecast NASDAQ:CATY

$42.96 (-0.0930%)

Volume: 264k

Closed: Nov 29, 2021

Hollow Logo Score: -2.484

Cathay General Bancorp Stock Forecast

$42.96 (-0.0930%)

Volume: 264k

Closed: Nov 29, 2021

Score Hollow Logo -2.484
Which way will CATY go? Request
Key Stats
P/E Ratio 11.29
Beta 1.28
Trailing Dividend Rate 2.94% ($1.26)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 39 and the stock is currently not being overbought or oversold

Red day on Monday for Cathay General Bancorp
(Updated on Nov 29, 2021)


Sell candidate since 2021-11-29

The Cathay General Bancorp stock price fell by -0.0930% on the last day (Monday, 29th Nov 2021) from $43.00 to $42.96. and has now fallen 4 days in a row. During the day the stock fluctuated 2.22% from a day low at $42.75 to a day high of $43.70. The price has been going up and down for this period, and there has been a -3.44% 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 -62 thousand shares and in total, 264 thousand shares were bought and sold for approximately $11.33 million.

The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.03% during the next 3 months and, with a 90% probability hold a price between $49.34 and $53.50 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Cathay General Bancorp 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 $44.61 and $43.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 23, 2021, and so far it has fallen -7.05%. 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

On the downside, the stock finds support just below today's level from accumulated volume at $40.57 and $39.78. There is 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, Cathay General Bancorp finds support just below today's level at $40.57. If this is broken, then the next support from accumulated volume will be at $39.78 and $38.25.

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 $0.95 (2.22%) between high and low. For the last week, the stock has had a daily average volatility of 2.93%.

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

Is Cathay General Bancorp stock A Buy?

The Cathay General Bancorp stock holds several negative signals and despite the positive trend, we believe Cathay General Bancorp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.484

Predicted Opening Price for Cathay General Bancorp of Tuesday, November 30, 2021

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

Fair opening price November 30, 2021 Current price
$43.14 $42.96 (Undervalued)
Sell Candidate Unchanged

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Analyst Ratings

On Aug 30, 2021 "Truist Securities" gave "$40.00 - $44.00" rating for CATY. The price target was changed from $39.86 to 1.1%.

Volatility and Risk
Daily Average Volatility: 2.93 %
Overall Risk: Very High High Medium Low Very Low
Volatility
2.93 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $44.78
Price: $42.96
Support: $40.57

CATY Insider Trading Show all Trades

INSIDER POWER

2.859

Last 100 transactions
Buy: 359 871 | Sell: 125 876 (Shares)
Date Action Amount Person Type
Nov 02, 2021 Sell 1 000 Chan Kelly L Common Stock
Oct 29, 2021 Sell 3 000 Bingham Kim R Common Stock
Aug 27, 2021 Sell 20 000 Wu Peter Common Stock
Jul 22, 2021 Buy 10 226 Cheng Dunson K Restricted Stock Units
Jul 22, 2021 Buy 10 866 Cheng Dunson K Restricted Stock Units
Show all Insider Trades
INSIDER POWER

2.859

Last 100 transactions
Buy: 359 871 | Sell: 125 876 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 44.09 2.62 %
43.72 1.78 %
43.50 1.26 %
Current price: 42.96
Support 42.77 -0.43 %
42.55 -0.96 %
42.19 -1.80 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 45.16 5.12 %
44.87 4.45 %
44.78 4.24 %
Current price 42.96
Support 40.57 -5.56%
39.78 -7.40%
38.25 -10.96%

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About Cathay General Bancorp

Cathay General Ban Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services for individuals, professionals, and small to medium-sized businesses in the United States. It offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, college certificates of deposit, and public funds depos... Read more

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