Commerce Bancshares Stock Forecast

Weaker technical forecast for Commerce Bancshares as stock downgraded to Buy Candidate.
(Updated on May 03, 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 $55.47 and $53.09. 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 11.34%. 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

Commerce Bancshares finds support from accumulated volume at $54.00 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 $1.22 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 2.00%.

The Commerce Bancshares stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $54.55 (-2.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (CBSH) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Commerce Bancshares to open at $56.31, and during the day (based on 14 day Average True Range), to move between $54.91 and $57.37, which gives a possible trading interval of +/-$1.23 (+/-2.19%) up or down from last closing price. If Commerce Bancshares takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $54.00, some $2.14 (3.81%) from the current price of $56.14, 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 3.085 Buy Candidate Downgraded

Predicted Opening Price for Commerce Bancshares of Monday, May 6, 2024

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