Canadian Western Bank (Edmonton, AB) 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
Stronger technical forecast for Canadian Western Bank (Edmonton, AB) stock price after Friday trading.
(Updated on Jun 28, 2024)
No changes to the price of Canadian Western Bank (Edmonton, AB) stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $31.70 to a day high of $31.70. The price has risen in 5 of the last 10 days and is up by 5.6% over the past 2 weeks.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 60.24% during the next 3 months and, with a 90% probability hold a price between $35.98 and $54.60 at the end of this 3-month period.
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CBWBF Signals & Forecast
The Canadian Western Bank (Edmonton, AB) 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 $31.21 and $23.20. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 27, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Canadian Western Bank (Edmonton, AB) stock
Canadian Western Bank (Edmonton, AB) finds support from accumulated volume at $30.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
The Canadian Western Bank (Edmonton, AB) stock is extremely overbought on RSI14 (93). This increases the short-term risk substantially.
Our recommended stop-loss: $30.70 (-3.14%) (This stock has low daily movements and this gives low risk. The RSI14 is 93 and this increases the risk substantially. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (CBWBF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Canadian Western Bank (Edmonton, AB) to open at $31.70, and during the day (based on 14 day Average True Range), to move between $31.02 and $32.38, which gives a possible trading interval of +/-$0.675 (+/-2.13%) up or down from last closing price. If Canadian Western Bank (Edmonton, AB) takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $30.64, some $1.06 (3.34%) from the current price of $31.70, our system finds the risk reward attractive.
Is Canadian Western Bank (Edmonton, AB) 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 Canadian Western Bank (Edmonton, AB) stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.929 Buy Candidate Upgraded
Predicted Opening Price for Canadian Western Bank (Edmonton, AB) of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $31.70 ( 0%) | $31.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBWBF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.70 | - |
| R2 | 31.70 | - |
| R1 | 31.70 | - |
| Price | 31.70 | |
| S1 | 31.70 | - |
| S2 | 31.70 | - |
| S3 | 31.70 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 31.70 | |
| S1 | 30.64 | -3.34% |
| S2 | 30.11 | -5.02% |
| S3 | 30.02 | -5.30% |
CBWBF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 20, 2024 | $0.257 | 0.83% |
| 2 | Mar 06, 2024 | Mar 06, 2024 | Mar 21, 2024 | $0.251 | 1.21% |
| 3 | Dec 20, 2023 | Dec 20, 2023 | Jan 04, 2024 | $0.255 | 1.12% |
| 4 | Sep 13, 2023 | Sep 13, 2023 | Sep 28, 2023 | $0.243 | 1.16% |
| 5 | Jun 07, 2023 | Jun 07, 2023 | Jun 22, 2023 | $0.246 | 1.32% |
FAQ
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