ChoiceOne Financial Services, Inc. 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 ChoiceOne Financial Services, Inc. stock price after Friday trading.
(Updated on May 24, 2024)
The ChoiceOne Financial Services, Inc. stock price gained 3.03% on the last trading day (Friday, 24th May 2024), rising from $24.75 to $25.50. During the last trading day the stock fluctuated 4.04% from a day low at $24.51 to a day high of $25.50. The price has risen in 6 of the last 10 days and is up by 0.59% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 9 thousand shares were bought and sold for approximately $220.96 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.47% during the next 3 months and, with a 90% probability hold a price between $21.31 and $27.44 at the end of this 3-month period.
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COFS Signals & Forecast
The ChoiceOne Financial Services, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $26.88. On a fall, the stock will find some support from the long-term average at approximately $24.99. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, May 17, 2024, and so far it has fallen -9.54%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for ChoiceOne Financial Services, Inc. stock
ChoiceOne Financial Services, Inc. finds support from accumulated volume at $25.17 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.99 between high and low, or 4.04%. For the last week the stock has had daily average volatility of 5.78%.
Our recommended stop-loss: $24.12 (-5.43%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (COFS) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect ChoiceOne Financial Services, Inc. to open at $25.17, and during the day (based on 14 day Average True Range), to move between $24.34 and $26.66, which gives a possible trading interval of +/-$1.16 (+/-4.55%) up or down from last closing price. If ChoiceOne Financial Services, Inc. takes out the full calculated possible swing range there will be an estimated 9.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.17 (1.29%) than the resistance at $26.20 (2.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ChoiceOne Financial Services, Inc. stock A Buy?
ChoiceOne Financial Services, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: -0.298 Hold/Accumulate Upgraded
Predicted Opening Price for ChoiceOne Financial Services, Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $25.17 ( 1.29%) | $25.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.16 | 2.59 % | |
| R2 | 25.78 | 1.11 % | ||
| R1 | 25.55 | 0.189 % | ||
| Current price: | 25.50 | |||
| Support | S1 | 24.79 | -2.78 % | |
| S2 | 24.56 | -3.69 % | ||
| S3 | 24.18 | -5.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.80 | 5.10 % | |
| R2 | 26.61 | 4.35 % | ||
| R1 | 26.20 | 2.73 % | ||
| Current price | 25.50 | |||
| Support | S1 | 25.17 | -1.29% | |
| S2 | 24.75 | -2.94% | ||
| S3 | 22.79 | -10.63% |
COFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.270 | 0.99% |
| 2 | Nov 29, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.270 | 0.92% |
| 3 | Aug 23, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.260 | 1.32% |
| 4 | May 24, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.260 | 1.13% |
| 5 | Feb 22, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.260 | 1.03% |
FAQ
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