Red day on Friday for Commerce Bancshares
(Updated on Dec 08, 2023)
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The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $52.28 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.25% during the next 3 months and, with a 90% probability hold a price between $47.48 and $55.55 at the end of this 3-month period.
CBSH Signals & Forecast
The Commerce Bancshares stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $51.28 and $47.82. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, December 07, 2023, and so far it has fallen -0.268%. 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.
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Support, Risk & Stop-loss for Commerce Bancshares stock
On the downside, the stock finds support just below today's level from accumulated volume at $48.91 and $48.52. There is a 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, Commerce Bancshares finds support just below today's level at $48.91. If this is broken, then the next support from accumulated volume will be at $48.52 and $46.43.
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 $0.99 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: $50.05 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CBSH) For The Upcoming Trading Day Of Monday 11th
For the upcoming trading day on Monday, 11th we expect Commerce Bancshares to open at $52.26, and during the day (based on 14 day Average True Range), to move between $50.83 and $53.35, which gives a possible trading interval of +/-$1.26 (+/-2.41%) up or down from last closing price. If Commerce Bancshares takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.23 (0.27%) than the support at $48.91 (6.10%), 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 Commerce Bancshares stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Commerce Bancshares stock to perform well in the short-term.
Current score: 1.710 Open Broker AccountBuy Candidate Unchanged
Predicted Opening Price for Commerce Bancshares of Monday, December 11, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 11, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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