Commerce Bancshares Stock Forecast

Green day on Wednesday for Commerce Bancshares
(Updated on Apr 24, 2024)

CBSH Signals & Forecast

Mostly positive signals in the chart today. 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 $54.00 and $52.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 10.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Commerce Bancshares stock

On the downside, the stock finds support just below today's level from accumulated volume at $52.56 and $51.81. 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 $52.56. If this is broken, then the next support from accumulated volume will be at $51.81 and $50.90.

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 $1.49 (2.73%) between high and low. For the last week, the stock has had daily average volatility of 2.58%.

Since the Commerce Bancshares has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $53.79 (-3.81%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (CBSH) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Commerce Bancshares to open at $55.48, and during the day (based on 14 day Average True Range), to move between $54.62 and $57.22, which gives a possible trading interval of +/-$1.30 (+/-2.32%) up or down from last closing price. If Commerce Bancshares takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $52.56, some $3.36 (6.01%) from the current price of $55.92, our system finds the risk reward attractive.

Is Commerce Bancshares stock A Buy?

Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can 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 period. Due to a possible false trend-break listing stock as pure buy candidate is held back.

Current score: 3.605 Buy Candidate Unchanged

Predicted Opening Price for Commerce Bancshares of Thursday, April 25, 2024

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